State-run power giant NTPC has made an offer to buy back its masala bonds worth Rs 4,000 crore from bondholders or lenders.
Masala bonds are issued outside India but denominated in Indian rupees, rather than the local currency. NTPC has launched a cash tender offer to buy the bonds worth Rs 4,000 crore.
According to the company statement, the offer includes the rupee-denominated Rs 2,000-crore 7.375 per cent notes issued on August 10, 2016, payable in dollar and due on August 10, 2021 (“2021 notes”). The offer also includes rupee-denominated Rs 2,000-crore 7.25 per cent notes issued on May 3, 2017, payable in dollar and due on May 3, 2022.
