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NHPC to raise Rs 690 crores from Japanese bank

PW Bureau

At a meeting, the NHPC board approved raising of money via external commercial borrowing in Japanese Yen equivalent to $100 million from MUFG Bank New Delhi: State-run hydropower company NHPC has said that it has got a nod from its board to raise around US$100 million from Japan's largest bank, MUFG Bank, to fund its ongoing projects. At a meeting, the NHPC board approved raising of money via external commercial borrowing (ECB) in Japanese Yen equivalent to $100 million (around Rs 690 crores) from MUFG Bank to partly finance the capital expenditure on on-going projects and other permissible activities. NHPC said in a regulatory filing that its board also gave an approval to the issuance of "fully serviced bonds" of up to Rs 2,017.20 crore in accordance with the mandate gives by the government for 2018-19 via unsecured, redeemable, taxable, non-cumulative, non-convertible, taxable bonds in one or more series or tranches on private placement basis from domestic market.