NTPC to raise Rs 3,000 cr via bonds on Friday

State-owned power giant NTPC Tuesday said it will raise Rs 3,056.50 crore on Friday through the issuance of bonds on a private placement basis. "NTPC has decided to raise Rs 3,056.50 crore on May 3, 2019, (Friday) through a private placement of secured non-convertible bonds in the nature of debentures at a coupon of 7.93 per cent per annum with a door-to-door maturity of three years," the company said in a statement.

The proceeds will be utilised to meet capital expenditure requirements, working capital needs, existing loans refinancing and other general corporate requirements. The bonds are proposed to be listed on both the National Stock Exchange and the BSE. Security for these bonds will be duly created as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein, it added.