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Indian-Commodity  :  Top News  :  NTPC raises 500 million Euro through overseas bonds sale

NTPC raises 500 million Euro through overseas bonds sale (27-Jan-2017)

NTPC has raised 500 million Euro through overseas bonds sale that perhaps the first longest tenor euro-denominated issuance by an Indian company. The company got bids for $2.4 billion, or nearly five times the targeted size, through euro-denominated bonds sale with 10-year maturity, the longest in the currency. Securities have been priced at 200 basis points over Euro Treasury.

This is the first-ever 10-year Euro denominated bond issuance by an Asian utility issuer and also the first-ever 10-year EUR transaction by an Indian issuer. The 10-year bond has been issued at a coupon of 2.75 per cent with a yield of 2.814 per cent. The company will use the issue proceeds for capex.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.


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