Committee approves raising of unsecured Power Grid bonds worth Rs 600 cr

New Delhi: State-owned Power Grid said in a regulatory filing on Friday that "the Committee of Directors for Bonds have approved the raising of Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable POWERGRID Bonds-LXXII (72nd) Issue 2022-23 on private placement up to Rs 600 crores by securitisation of cashflows of 10 years i.e., till FY 2032-33 of its operational SPV named, POWERGRID NM Transmission Limited (PNMTL)."

Specific details

The filing said that the base issue size is Rs 100 crores and the green shoe option is worth Rs 500 crores. These bonds will be listed on NSE and BSE, it added. "The coupon interest rate will be decided by the Electronic Book Provider (EBP). Bonds are redeemable at par in 40 equal installments and interest payments on a quarterly basis," it added.

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