NHPC Ltd has raised ₹750 crore through a private placement of bonds at 6.8 per cent per annum for a loan tenure of 10 years. A company statement said the issue structure consists of a base size of ₹500 crore with a greenshoe option of ₹250 crore.
NHPC said the issue was oversubscribed 3.87 times (or for ₹2,899 crore) amid Covid-19 outbreak. The coupon rate of 6.8 per cent is the lowest in the current fiscal and lower by 30 bps or 0.30 per cent to the prevailing AAA rated 10 years bonds at 7.1 per cent.