UP Power Corp raises Rs 3,951 crore through bonds
Uttar Pradesh Power Corporation has raised Rs 3,951 crore through bonds maturing in 10 years, at a coupon rate of 9.7%. According to sources, the bonds, which were listed on Wednesday, saw a strong response from a diversified class of investors, including banks, mutual funds, NBFCs, insurance companies and infra finance companies. “As many as 22 entities have invested in the bonds, including Credit Suisse, Barclays, Morgan Stanley, Nippon, Aseem Infra, Star Health, Tipsons, Trust group, AK Capital, etc,” an official told FE on condition of anonymity.
