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State-owned power giant NTPC to raise Rs 2,500 cr via bonds on Wednesday

The firm will raise the money through issuance of non-convertible bonds via private placement

Bonds | corporate bonds | NTPC

Press Trust of India  |  New Delhi 

NTPC, NTPC Limited

State-owned power giant on Friday said it will raise Rs 2,500 crore through issuance of non-convertible via private placement on January 27.

" has decided to issue unsecured non-convertible in the nature of debentures of Rs 2,500 crore on January 27, 2021, through a private placement at a coupon of 6.43 per cent per annum with a door to door maturity of 10 years on January 27, 2031," a BSE filing said.

The proceeds will be utilised for funding capital expenditure, refinancing of existing loans and other general corporate purposes, among others.

The are proposed to be listed on BSE. Bond Trust Deed 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 on September 24, 2020.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, January 22 2021. 20:40 IST