NTPC to raise Rs 1,000 cr via bonds on July 31

State-run power giant NTPC on Wednesday said it will raise Rs 1,000 crore on July 31 through issuance of bonds on private placement basis for funding capital expenditure, refinancing existing loans, among others. “NTPC has decided to raise Rs 1,000 crore on July 31, 2020, through private placement of unsecured non-convertible bonds in the nature of debentures at a coupon of 6.29 per cent per annum with a door to door maturity of 10 years, 8 months and 11 days on April 11, 2031,” a regulatory filing said.

The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on both NSE and BSE, it said.

Bond Trust Deed for these bonds will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein, the filing said.

These bonds are issued under the approval obtained through shareholders’ resolution on August 21, 2019, it added.

(Indian PSU: All about Indian Public Sector Undertakings. Follow @IndianPSUs for all the News & Views on PSUs, Corporates, Markets, Bureaucracy, Public Policy)

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