NTPC raises $450 mn from foreign market to finance ongoing, new projects
State-run power giant NTPC Wednesday said it has raised $ 450 million (about Rs 3,105 crore) through five-year bond offering in the international market under its $ 6 billion (about Rs 41,400 crore) medium term notes (MTN) programme.
NTPC had opened the issue of $ 450 million five-year bond offering in the international market on Tuesday, the company said in a statement.
In terms of geographical distribution, Asia took the bulk of the subscription at 90 per cent (of the $ 450 million MTN), with supplemental demand of 10 per cent from Europe, Middle East & Africa and offshore US accounts, the statement said.
The distribution of investors was well diversified as fund managers took 69 per cent of the subscription of the MTN issue, followed by banks with 22 per cent, insurance/pension with 8 per cent and PB (private banks)/others (wealth manager) with 1 per cent, it said.
