TPREL raises Rs 5.75 billon through NCDs

Tata Power Renewable Energy Limited has raised Rs 5.75 billion through the issue of NCDs on a private placement basis. The company will utilise the proceeds to prepay the existing high-cost debt. The NCDs will carry a spread of 0.14 per cent above the six-month marginal cost of HDFC Bank’s lending rate, payable semi-annually.