NTPC on Thursday said it has raised Rs 600-crore term loan from The Jammu & Kashmir Bank Ltd. The funds would be used to part-finance the capital expenditure of its projects.
“The loan facility has been extended at the base rate of the bank, which is the bare minimum rate at which a bank can lend. This loan has a door-to-door tenure of 15 years and will be utilised to part-finance the capital expenditure of NTPC,” the public sector power producer said in a statement.
NTPC said that it has been raising debt from Indian banks and financial institutions since November 1999. Till now, it has signed loan agreements for Rs 57,629.35 crore. Of these, loans worth Rs 41,404.35 crore have been utilised.