NTPC to raise Rs 10 billion via bonds on July 31

NTPC Limited will raise Rs 10 billion on July 31, 2020 through issuance of unsecured non-convertible bonds in the nature of debentures, on a private placement basis.

The coupon rate for the bonds will be 6.29 per cent per annum with a door to door maturity of 10 years, 8 months and 11 days on April 11, 2031. The proceeds will be utilised 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 and are issued under the approval obtained through shareholders’ resolution on August 21, 2019. 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. In a separate development, NTPC Limited achieved the highest daily gross power generation of 977.07 MUs on July 28, 2020.  NTPC’s previous best daily generation was 935.46 MUs achieved on March 12, 2019.

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