{"id":307949,"date":"2019-12-31T12:38:11","date_gmt":"2019-12-31T07:08:11","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=307949"},"modified":"2019-12-31T12:56:39","modified_gmt":"2019-12-31T07:26:39","slug":"pfc-ntpc-stake-sales-hit-borrowing-clause-hurdle","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/pfc-ntpc-stake-sales-hit-borrowing-clause-hurdle\/","title":{"rendered":"PFC, NTPC stake sales hit borrowing clause hurdle"},"content":{"rendered":"<p>New Delhi: The government is facing hurdles in trimming its stakes in Power Finance Corp. Ltd (PFC) and NTPC Ltd, as the companies may breach a bond covenant that requires the companies to be majority-owned by the government.<\/p>\n<p>Reducing the government\u2019s stake to less than 50% will also increase overseas borrowing costs for these companies, as they will lose their quasi-government status as borrowers.<\/p>\n<p>NTPC and PFC are among state-run companies in which the government plans to reduce its stake by selling shares through its two exchange-traded funds (ETFs), a basket of securities that trade on exchanges. The government sells its stakes in listed central public sector enterprises (CPSEs) through the CPSE ETF and Bharat 22 ETF.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: The government is facing hurdles in trimming its stakes in Power Finance Corp. Ltd (PFC) and NTPC Ltd, as the companies may breach a bond covenant that requires the companies to be majority-owned by the government. Reducing the government\u2019s stake to less than 50% will also increase overseas borrowing costs for these companies, as they will lose their quasi-government status as borrowers. NTPC and PFC are among state-run companies in which the government plans to reduce its stake by selling shares through its two exchange-traded funds (ETFs), a basket of securities that trade on exchanges. The government sells [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-307949","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/307949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=307949"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/307949\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=307949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=307949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=307949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}