In a bid to refinance old debts due in the next few months, Tata Power Company is planning to raise $560 million from the international market. The company is marketing a $460-million, 18-month loan and another of $100 million as a three-year facility. State Bank of India, ANZ, Bank of America Merrill Lynch, RBS and Standard Chartered are marketing the loan on the company’s behalf.
Last week, the company announced that it is planning to dilute its non-core investments to reduce debt, as well as refinance loans. As of March 31, the company’s consolidated net debt stood at Rs 38,618 crore, compared with Rs 35,892 crore a year earlier.
Tata Power is India’s largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
Company Name | CMP |
---|---|
NTPC | 331.40 |
Tata Power | 399.60 |
Power Grid Corp | 295.90 |
Adani Power | 723.85 |
Torrent Power | 1399.65 |
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