NTPC plans ₹3,000-cr NCD issue

NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of ₹3,000 crore on September 13, through private placement at a coupon of 6.69 per cent p.a. with a door-to-door maturity of 10 years. The proceeds will be utilised for funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on BSE. Shares of NTPC closed at 0.5 per cent higher at ₹114.50 on the BSE. Bond Trust Deed for these bonds will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein.