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NTPC ropes in HDFC Bank for Rs 2,500 crore loan

Devdiscourse News Desk new delhi India
Updated: 05-02-2019 17:42 IST
NTPC ropes in HDFC Bank for Rs 2,500 crore loan

State-run power giant NTPC Tuesday said it has signed an agreement with HDFC Bank for a Rs 2,500 crore loan to part finance capital expenditure. The loan is extended at an interest rate linked to the three-month marginal cost of funds-based lending rate (MCLR) of the bank, a statement said.

According to the statement, the loan pact signed Monday has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC. The loan agreement was signed by A K Gautam, Executive Director (Finance), NTPC and Raveesh Bhatia, Regional Head, Corporate Banking, HDFC Bank in the presence of other officials.

(With inputs from agencies.)