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NTPC board approves plan to raise USD 6 bn via bonds

Press Trust of India  |  New Delhi 

State-run today said its board has approved the proposal to increase the amount to be raised by issuing bonds in international markets to USD 6 billion from USD 4 billion.

"The Board of Directors, in its meeting held on April 19, 2017, has accorded approval for updating and upsizing the USD 4 billion MTN (medium term note) programme up to USD 6 billion for raising debt from international markets to part capital expenditure on new/ongoing projects, coal mining projects, renovation and modernisation of power stations and for other permissible end uses," it said in a filing.

According to the statement, the board has also approved the proposal to issue Notes up to Rs 50 billion (Rupee denominated bonds) and/or up to USD 750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis in one or more tranches.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 21:32 IST