State run, Power Grid Corporation is planning to raise around Rs 3,000 crore, contemplating in a rupee or a dollar bond issue, for funding its expansion plans, in this fiscal. The bonds will be listed on the Singapore Stock Exchange and is the third debt issue from the country since the beginning of this year.
The company recently concluded a $500-million bond sale at an interest of 3.875%. It is the lowest ever coupon rate for 10-year dollar funds raised by a domestic issuer in the overseas market.
Power Grid is engaged in bulk power transmission and its responsibility include planning, coordination, supervision and control over inter-State transmission system and operation of National and Regional Power Grids.
