State-run power giant NTPC on Wednesday said it has raised $450 million or nearly Rs 3,105 crore, through a five-year bond offering in the international markets. On Tuesday, the company launched a medium-term notes (MTN) issue under its $ 6 billion (approx Rs 41,400 crore) MTN programme.
NTPC’s $6 billion MTN Programme was set up in 2006 and this issuance was the tenth offering under the programme taking the cumulative amount raised to $4.30 billion.
NTPC intends to use the proceeds of the issue to finance its ongoing and new power projects, coal mining projects, acquisition of power plants and renovation and modernisation of power stations in accordance with the applicable guidelines of Reserve Bank of India (RBI) in relation to external commercial borrowings. The proceeds will be used for projects in India only.
