State-run hydro power giant NHPC on Thursdayraised Rs 750 crore through issuance of bonds on private placement basis.
"NHPC has raised Rs 750 crore today through private placement of bonds at very competitive interest rate of 6.80 per cent per annum for a loan tenure of 10 years," the company said in a statement.
As per the statement, the issue structure consists of base size of Rs 500 crore with green shoe option of Rs 250 crore.
However, amid the COVID-19 outbreak, the issue was taken overwhelmingly by the market and oversubscribed 3.87 times.
The coupon rate of 6.80 per cent is the lowest in the current fiscal and lower by 30 basis points than the prevailing AAA rated 10 years bonds at 7.10 per cent.
NHPC carries highest credit credentials and is rated AAA by leading rating agencies, it added.
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