NTPC to raise Rs 3,996 cr by issuing bonds next week

New Delhi: State-owned power giant NTPC will raise Rs 3,996 crore through issuance of non-convertible bonds on Tuesday.

"NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of Rs 3,996 crore on 20 April, 2021, through private placement at a coupon of 6.87 per cent per annum with a door-to-door maturity of 15 years 1 day on 21 April, 2036," a BSE filing said.

The proceeds will be utilized for funding capital expenditure, refinancing of existing loans and other general corporate purposes, it said. The bonds are proposed to be listed on NSE.

These bonds are to be issued under the approval obtained through shareholders' resolution dated September 24, 2020, it added.