State-run power giant NTPC today said it will raise USD 400 million through 10-year dollar-denominated bonds that carry 4.5 per cent interest. The bonds, part of USD 6 billion fund raising plan, will be listed on Singapore Exchange Securities Trading Ltd and India International Exchange IFSC. In a BSE filing, NTPC said the funds would be used for capital expenditure of the ongoing as well as new projects, coal mining projects and renovation and modernisation. The bonds worth USD 400 million at 4.5 per cent, due in 2028, will be issued as part of USD 6 billion medium-term note programme by NTPC. As per the Union Budget, NTPC's capital expenditure is planned at Rs 23,000 crore for the next financial year compared to Rs 28,000 crore in 2017-18. The funds raised through this issue would be used for projects in India only. In a separate filing, the company said the third unit of 800 MW of Kudgi Super Thermal Power Station (3 x 800 MW) has been commissioned on March 12, 2018. With this, the total commissioned capacity of the station has become 2400 MW.
NTPC launches USD 400 mn bonds
Press Trust of India |