NTPC raises $450 million from the international market

NTPC Limited has raised $450 million through a five-year bond offering in the international market under its $6 billion medium-term note (MTN) programme. This issuance is NTPC’s tenth offering under the programme, taking the cumulative amount raised under the MTN programme to $4.3 billion. The company intends to use the proceeds of the issue to finance its ongoing and new power projects, coal mining projects, acquisition of power plants and renovation and modernisation of power stations. The notes carry a coupon rate of 3.75 per cent per annum payable semi-annually. The notes will mature on April 3, 2024.