Nuclear Power Corp raises Rs 4,600 cr at 7.14% through 15 year bonds

IIFCL is planning to mop up Rs 3,000 crore in two tranches with varying maturities

Nuclear Power Corporation of India (NPCIL) on Monday raised Rs 4,600 crore through 15–year bonds at a coupon rate of 7.14 per cent, sources said.

 

Market participants were expecting pricing in the range of 7.10–7.15 per cent for the bond issuance, and the final coupon was range bound, sources added.

 

The issue received bids worth Rs 13,000 crore, reflecting robust demand from investors, sources added.

 

The issue – rated ‘AAA’ by domestic rating agency India Ratings and CARE – had a base issue size of Rs 2,000 crore and a green shoe option of Rs 2,600 crore.

 

While the tenor