Power generator NTPC Ltd raises 500 million euros via overseas bonds sale

• Posted in Power
• on January 27, 2017
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NTPC, India’s biggest power producer, has raised 500 million euros through overseas bonds sale that perhaps may be the first longest tenor eurodenominated issuance by an Indian company.

NTPC got bids for $2.4 billion, or nearly five times the targeted size, through euro-denominated bonds sale with 10-year maturity, the longest in the currency. Securities have been priced at 200 basis points over Euro Treasury.

“The 10-year bond has been issued at a coupon of 2.75% with a yield of 2.814%,“ the company said in a statement. The proceeds of the bonds issue would be used for capex. This is the first ever 10-year Euro denominated bond ssuance by an Asian utility issuer and also the first ever 10-year EUR transaction by an Indian Issuer.

NTPC said the issue saw participation from more than 125 investors from across the globe.

This, it said, is the first “10-year EURO bond for BBBIssuer from Asia-ex Japan“ and the “longest tenor achieved by a BBBIssuer from Emerging Markets since 2005.“ Also, it is the first 10-year EURO bond by an Indian issuer, the statement said. Earl Thomas III Womens Jersey

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