NTPC Generates Rs 4,300 Crores through Largest Private Placement of Bonds

NTPC has announced that it has raised Rs 4,300 crore through bonds, which would be used for capital expenditure and general corporate requirement.

The company arrived in the bond market to generate long-term debt for its capital expenditure and general corporate requirements, with an issue of base size of Rs 500 crore with a green shoe option to retain over-subscription of up to Rs 4,000 crore and a tenure of 10 years, a BSE filing said.

The company told the bourse that the issue generated an awe-inspiring response among investors and bids of Rs 9,359.90 crore were acknowledged.

Though, NTPC has decided to preserve an aggregate amount of Rs 4,300 crore at a coupon of 7.32 per annum.

This was the largest-ever private placement of bonds by NTPC, showing investors' continued faith and confidence in the number one power generating company of the country. These bonds will be listed on the National Stock Exchange and the BSE, it added.

Business | News published on 16/07/2019 by Moulin

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