NTPC to raise 3500 crore through dollar or euro bonds by september

Vastavam web:  The state-owned NTPC is likely to raise around Rs 3,500 crore through dollar or euro bonds by September to finance its ongoing projects.”We can go for dollar or euro bonds after September. We would raise around Rs 3,500 crore through these bonds,” Kulamani Biswal, Director (Finance), NTPC, told reporters here.The power giant listed its masala bonds at the London Stock Exchange (LSE) today here in the presence of Power Minister Piyush Goyal.
Under the the USD 4 billion medium term note (MTN) programme, NTPC had raised Rs 2,000 crore earlier this month and Rs 2,000 crore in August 2016.The LSE listing will provide global investors access to Indian companies, besides providing liquidity. “I am delighted that NTPC has successfully concluded the second round of masala bond offering in the international market. The Rs 2,000 crore offering was successfully made in London at a very attractive price of 7.25 per cent,” the minister said.Speaking during the LSE-Ficci roundtable on investment, the minister asserted that India is open to investment.”That’s the India of today. Dreaming, working, planning, aspiring for a better tomorrow. I assure you all that tomorrow is going to happen. We are committed to make it happen. I invite all of you to be part of that journey,” the minister further said.