State run lending agency Power Finance Corporation (PFC) plans to raise up to Rs. 4,590 crore through tax-free bonds by March next year (2013).
The issue is part of its plan to garner Rs. 5,000 crore by way of issuing tax free securities in the current fiscal. (2012-13).
Out of the total target, Rs. 410 crore has already been raised.
The firm, which is engaged in financing power generation and transmission projects, said that bonds would be issued in one or / more tranches through the nonconvertible debentures route.
The bond funds would be utilised towards lending purposes, debt servicing & working capital requirements of the company.
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