NTPC raises Asia’s largest Japanese yen loan of $750 million

India’s largest power generating company NTPC Limited has raised syndicated Japanese yen loan (JPY) worth $750 million. This is the largest ever syndicated JPY loan raised by any Asian company from offshore Samurai loan market, said NTPC in a public statement. It is also the highest ever single foreign currency loan raised by NTPC.

Raised under automatic route of RBI ECB regulations, the loan has been fully underwritten by State Bank of India, Tokyo, Sumitomo Mitsui Banking Corporation, Singapore and Bank of India, Tokyo. The facility has a door to door maturity of 11 years under two tranches, it said.

This is the third bond offering by NTPC from the international markets in the current financial year. In 2019, it raised $450 million under its $6 billion Medium Term Note (MTN) Programme.