Public sector power generator NTPC Ltd said on Thursday that it has successfully issued its 61st series of bonds with a maturity period of 15 years to raise over ₹ 1,000 crore. The issue was oversubscribed 1.74 times
“Bids amounting to ₹ 1,305 crore were received against issue size of ₹ 750 crore. After creating pricing tension, coupon of 8.10 per cent was achieved which was inside of the corporate 10-year AAA yield curve by 10-14 basis points and an amount of ₹ 1,072.50 crore was allocated to successful bidders,” the company said in a statement.
“The proceeds of the issue will be utilised for capital expenditure. NTPC is rated ‘AAA’ by CRISIL, CARE and ICRA and the bond issue was also rated ‘AAA’,” the statement added.