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

    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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