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NTPC will raise ₹3,056.50 crore by issuing secured non-convertible bonds on Friday. The money raised will be used to meet various corporate requirements, the company said.
“NTPC has decided to raise ₹3,056.50 crore on May 3, 2019, through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 7.93 per cent per annum with a door-to-door maturity of 3 years,” a company statement said.
“The proceeds will be utilized inter alia , used to part meet the capex requirement, refinancing of existing loans, working capital, and other general corporate requirements,” the statement added.
The bonds are proposed to be listed on both the NSE and the BSE. Security for these bonds will be duly created as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified therein, NTPC said.
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