NTPC raises Asia's largest Japanese yen loan worth USD 750 mn
According to a company statement, the loan has been raised under automatic route of RBI's external commercial borrowings regulations, and is also the highest ever single foreign currency loan raised by NTPC.
The facility has a door-to-door maturity of 11 years under two tranches.The company said, the facility is fully underwritten by State Bank of India, Tokyo, Sumitomo Mitsui Banking Corporation, Singapore and Bank of India, Tokyo, on January 20 and will be shortly launched by banks for general syndication. Advertisement
"NTPC has signed a syndicated term loan in Japanese Yen (JPY), equivalent to USD 750 million," it said, adding that this is the largest ever syndicated JPY loan raised by any Asian Corporate from offshore Samurai loan market.
The loan proceeds shall be utilised by the company for funding its capex for installation of flue gas desulphurisation (FGD) system, hydro projects and other projects using ultra supercritical technology with low carbon emission.Shares of NTPC were trading at Rs 111.15 apiece in morning session, up 1.88 per cent from the previous close on BSE. KKS ANS ANS
- India leaves borrowing calendar unchanged — sticks to its ₹12 lakh crore target for the year
- EA Play games will be available with Xbox Game Pass starting November 10
- Indians can now fly to Kenya and Bhutan under the new air bubble agreement, says Aviation Minister Puri
- Centre extends deadline for IT returns filing for 2019-20 to November 30
- September two-wheeler sales expectations — Hero MotoCorp expected to outperform Bajaj Auto and TVS Motor