NTPC raises Rs 8 billion via debentures; seeks shareholders’ nod to raise up to Rs 150 billion via bonds

NTPC Limited has raised Rs 8 billion by issuing secured NCDs on a private placement basis. The securities offer a coupon rate of 7.58 per cent per annum with a door-to-door maturity of 10 years. The funds will be used for capital expenditure and refinancing debt requirements of ongoing projects along with recouping expenditure already incurred. In a related development, the company will seek shareholder approval in September 2016 for raising up to Rs 150 billion through the issuance of bonds. The funds will be utilised to meet working capital requirements, capital expenditure and general corporate purposes. The funds will be raised in one or more tranches not exceeding 30.

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