NTPC Ltd.

State run, National Thermal Power Corporation (NTPC) has raised $500 million via 10-year US dollar denominated bond offering in the US bond market, as mentioned in a media report. The transaction is a part of the $2-billion Euro Medium Term Note (EMTN) programme of the company. Meanwhile, coupon for the NTPC bond has been fixed at 4.75% while its yield would be at 4.764% per annum.

Further, the sale of dollar-denominated bonds is the first such offering by an Indian non-financial company since February. Meanwhile, for the latest bond offering, as much as 62% of the investors were Asian institutional investors, while 31% were European and US offshore accounted for 7%.

NTPC is the largest power generating major in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.