NTPC's Rs 2,000-cr Masala Bonds oversubscribed

NTPC Limited priced its rupee-denominated 5-year Masala Bonds offering for Rs 2,000 crore, for the second time in international markets. It is the only state-owned company to tap Masala Bonds market twice.

This is the eighth offering under the company’s $4 billion Medium Term Note (MTN) programme since 2006, taking the cumulative amount raised under the programme to approximately $3.46 billion. These bonds would be listed at the Singapore Stock Exchange and the London Stock Exchange.

The issue was oversubscribed with the participation of more than 40 accounts and was successfully priced at a coupon of 7.25 per cent payable annually, NTPC