NTPC Limited has raised an unsecured USD750 million external commercial borrowing (ECB) syndicated term loan facility to support its capital expenditure and capacity addition plans.
The facility comprises a base issue of USD 500 million and a greenshoe option of USD 250 million, with a door-to-door tenor of 10 years and average maturity of 7 years. Bank of Baroda acted as the mandated lead arranger and underwriter for the base tranche of USD 500 million, while HDFC Bank served as the mandated lead arranger and bookrunner for the greenshoe portion. The funds will be utilised for ongoing and upcoming capacity expansion programmes, including flue gas desulphurisation, renewable energy (including hydro), and refinancing of existing ECBs in line with Reserve Bank of India guidelines.