 "State-owned power giant NTPC to raise Rs 2,500 cr via bonds on Wednesday")
State-owned power giant NTPC on Friday said it will raise Rs 2,500 crore through issuance of non-convertible bonds via private placement on January 27.
"NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of Rs 2,500 crore on January 27, 2021, through a private placement at a coupon of 6.43 per cent per annum with a door to door maturity of 10 years on January 27, 2031," a BSE filing said.
The proceeds will be utilised for funding capital expenditure, refinancing of existing loans and other general corporate purposes, among others.
The bonds are proposed to be listed on BSE. Bond Trust Deed will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein.
These bonds are issued under the approval obtained through shareholders' resolution on September 24, 2020.