NTPC will raise up to $750 million in debt from foreign investors through the ECB route
NTPC said the bids from banks/financial institutions should be a comprehensive, unconditional, firm and fully subscribed offer for the entire amount of the proposed facility.
State-owned NTPC Ltd is looking to raise up to $750 million (about Rs 6,222 crore) in debt from foreign investors.
According to the company’s request for proposal, the proposed facility will be provided automatically as permissible under the RBI’s External Commercial Borrowing (ECB) guidelines.
“NTPC is seeking external commercial borrowing (ECB) in the form of an unsecured term loan… equivalent to USD 500 million plus a green shoe option of EUR equivalent to USD 250 million,” the report said.
NTPC said the bids from banks/financial institutions should be a comprehensive, unconditional, firm and fully subscribed offer for the entire amount of the proposed facility.
The deadline for submitting a bid is February 21.
NTPC, under the Ministry of Power, is the country’s largest power producer.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: February 7, 2024 | 4:50 PM IST