In a bid to meet various corporate requirements, state-run power giant National Thermal Power Corporation (NTPC) will raise Rs 3,056.50 crore by issuing secured non-convertible bonds on Friday.
“NTPC has decided to raise Rs 3,056.50 crore on May 3, 2019, through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 7.93 per cent per annum with a door-to-door maturity of three years,” the firm said. The proceeds will be used to meet capex, refinancing of existing loans and working capital requirements, among others.
The bonds are proposed to be listed on both NSE and the BSE. Security for these bonds will be created as per the requirements of, and within the time period prescribed under, the Companies Act, it said.
