State-run NHPC today said its board has approved raising Rs 900 crore through issuance of secured non-convertible corporate bonds on private placement basis.
"The Board of Directors of the company at its meeting held on April 26, 2016, has considered and approved the proposal for raising of debt up to Rs 900 crore through issuance of U-Series secured redeemable non-cumulative non convertible corporate bonds in the nature of debentures on private placement basis," NHPC said in BSE filing.
Last week, NHPC had said that it was considering Rs 900 crore to meet debt requirement and refinancing PFC loan.
"Out of this, Rs 276 crore will be covered under IEBR 2016-17 and balance for recoupment of IR and refinance purpose," the filing had said.
In a separate filing, NHPC said Rangit 3X20 MW power station in Sikkim, under complete shutdown from April 18 for replacement of MIV Seal of Unit 2, has started generation on April 21.
The company has a cash reserve of around Rs 6,000 crore. The cumulative power generation of all NHPC power stations stood at 21,460 MU against the excellent target of 19,746 MU up to January, 2016.
