NTPC raises 500 mn euros through overseas bonds
Published: Jan 27, 2017
By TIOLCORP News Service
NEW DELHI, JAN 27, 2017: NTPC successfully issued its first Euro denominated bond worth EUR 500 million at the inaugural EURO Bond by the company across the globe. The issue was oversubscribed around 4.5 times and saw participation from more than 125 investors across the globe. The 10 year bond has been issued at a coupon of 2.75% with a yield of 2.814%.
This is the first ever 10 year Euro denominated bond issuance by an Asian utility issuer and also first ever 10 year EUR transaction by an Indian Issuer. These bonds have longest tenor achieved by a BBB- Issuer from Emerging Markets since 2005. The proceeds of the bonds issue would be used for capex.