Power giant NTPC to raise Rs 3,000 crore via bonds on September 13

State-run power giant NTPC on Thursday said the company has decided to raise Rs 3,000 crore through issuance of bonds on a private placement basis on September 13.

"NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of Rs 3,000 crore on 13th September 2021, through private placement at a coupon of 6.69 per cent per annum with a door to door maturity of 10 years," a BSE filing said.

The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes, it stated.

The bonds are proposed to be listed on the BSE.

Bond Trust Deed for these bonds 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 dated 24th September 2020, it stated.