NTPC raises Rs 40 billion via debentures through private placement

NTPC Limited has raised Rs 40 billion through the private placement of unsecured, non-convertible debentures. The debentures will carry a coupon rate of 6.89 per cent per annum and have a tenor of 10 years and 1 day. It marks the third such issue under the approved framework. The funds raised will be used for purposes such as capital expenditure, refinancing of existing loans and other general corporate needs. The debentures are proposed to be listed on the National Stock Exchange (NSE). Further, the company is planning to raise Rs 180 billion through bond issuance.