NTPC : Rs 2000 Crore Masala Bonds Receive Strong Response

NTPC Limited, for the second time in international markets, priced its rupee-denominated 5-year Masala Bonds offering, for Rs 2,000 crore. NTPC, which is a state-owned company, is the only one to tap the Masala Bonds market twice.

Taking the cumulative amount raised under the programme to around $3.46 billion, this is the eighth offering since 2006 under the company’s $4 billion Medium Term Note (MTN).

These bonds would be listed at the London Stock Exchange and Singapore Stock Exchange.

NTPC in a statement said that, the issue was oversubscribed with the participation of more than 40 accounts, and was successfully priced at a coupon of 7.25%, payable annually.

Fitch Ratings had assigned a rating of BBB-/Stable to the company's rupee-denominated senior unsecured notes.

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