Millennium Post (Kolkata)

NTPC to raise `3,996 cr by issuing bonds next week

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NEW DELHI: State-owned power giant NTPC will raise Rs 3,996 crore through issuance of non-convertibl­e bonds on Tuesday.

“NTPC has decided to issue unsecured non-convertibl­e bonds in the nature of debentures of Rs 3,996 crore on 20 April, 2021, through private placement at a coupon of 6.87 per cent per annum with a door-todoor maturity of 15 years 1 day on 21 April, 2036,” a BSE filing said.

The proceeds will be utilized for funding capital expenditur­e, refinancin­g of existing loans and other general corporate purposes, it said. The bonds are proposed to be listed on NSE.

These bonds are to be issued under the approval obtained through shareholde­rs’ resolution dated September 24, 2020, it added.

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