New Delhi: State-run NTPC Limited on Friday said that it will raise Rs 3,996 crore through the issuance of non-convertible bonds on April 20.
"NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of Rs.3,996 crore on 20 April 2021, through a private placement at a coupon of 6.87% p.a. with a door to door maturity of 15 years 1 day on 21 April 2036," NTPC said in a regulatory filing to the stock exchange on Friday.
The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes.
"The bonds are proposed to be listed on NSE. 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," it added.
NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian public sector undertaking engaged in the business of generation of electricity and allied activities. NTPC Limited is India's largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India. It is a company incorporated under the companies act 1956 and is promoted by the government of India.
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