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Board of NTPC approves upsizing of MTN programme upto USD 6 billion

Capital Market 

At meeting held on 19 April 2017

The Board of Directors of in its Meeting held on 19 April 2017, has accorded approval for updating and upsizing the USD 4 billion MTN programme upto USD 6 billion for raising debt from international markets to part finance the capital expenditure on new / ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses subject to compliance of the provisions of the Companies Act, 2013, the ECB guidelines of the RBI.

The Board of Directors, in the aforesaid Meeting, has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto USD 750 million equivalent (foreign currency bonds other than INR denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new / ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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