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NTPC launches 3.75% USD 450 mn Notes issue

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Capital Market
Last Updated : Mar 27 2019 | 10:32 AM IST
NTPC has launched and priced an issue of 3.75% U.S.D 450,000,000 notes due 2024 on March 26, 2019. The Notes carry a coupon of 3.75 % per annum payable semi-annually. The Notes are expected to be settled by April 3, 2019. The Notes will mature on 03 April 2024 and all principal and interest payments will be made in U.S. Dollars.

The net proceeds from issue of Notes will be applied to finance capital expenditure of ongoing and/or new power projects, coal mining projects, acquisition of power projects and renovation and modernisation of power stations of NTPC in accordance with applicable Reserve Bank of India's guidelines in relation to external commercial borrowings. Further, the use of proceeds will be for projects only in India.

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First Published: Mar 27 2019 | 9:59 AM IST

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