The profits will be employed for funding of capital expenditure, refinancing of present loans and other general corporate purposes, the company said in a regulatory filing
April 13, 2020. By News Bureau
NTPC has announced that it will raise Rs 4,374.10 crore through issuance of unsecured non-convertible bonds on private placement basis. The profits will be employed for funding of capital expenditure, refinancing of present loans and other general corporate purposes, the company said in a regulatory filing.
The bonds are proposed to be listed on both National Stock Exchange and BSE. 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, it noted.
"NTPC has decided to raise Rs 4,374.10 crore on 16 April, 2020 through private placement of unsecured non-convertible bonds in the nature of debentures at a coupon of 6.55 per cent per annum with a door to door maturity after 3 years 1 day," it said.
These bonds are issued under the approval obtained through shareholders' resolution on 21 August, 2019, it added.
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