NTPC ties-up term loan facility amounting $250 million

23 Feb 2013 Evaluate

Country’s largest power utility company, National Thermal Power Corporation (NTPC) has tied up a term loan facility of $250 million with State Bank of India, New York Branch and Mizuho Corporate Bank, Singapore Branch as arrangers and lenders. The loan carries a floating rate of interest linked to LIBOR and has a door to door maturity of 7 years.

The loan agreement was signed in New York and empowers NTPC for utilization of the proceeds of the loan towards capital expenditure for procurement of goods and services for the ongoing and new projects, renovation and modernization of stations of the corporation.

With the execution of the facility, NTPC has raised $750 million in the current financial year, the maximum amount permitted under the Automatic Route of the ECB guidelines issued by the RBI.

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

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