Finance
Mr. BillionhairPower Finance Corp Cancels ₹6,000 Crore Bond Sale—Yikes!
Folks, let me tell you! Power Finance Corp, a tremendous company, just ditched a colossal ₹6,000 crore bond sale! Why? Because the bids were through the roof! They wanted a deal below 6.90%, but no chance! Third time's a charm, right? Yields are soaring, and the market's playing it cautious! I said it first, folks! Total disaster!
few days ago | Anjali Kumari
Quick rundown
1.PFC cancels bond issuances due to high yield demands.
2.This marks the third withdrawal by PFC in two months.
3.Market sees muted response to RBI's rate cut.
4.BoI successfully raises ₹10,000 crore via 10-year bonds.
5.Investors prefer longer-duration bonds in current market.
