NTPC to raise $500 million through Notes issue

NTPC has launched an issue of $500 million Fixed Rate Unsecured Notes due 2024 which were priced on November 19, 2014. The Notes carry a coupon of 4.375% p.a. payable semi-annually and are of 10 years tenor. The Notes are expected to be settled by November 26, 2014. The Notes represent unsecured obligations of the Issuer and will rank pari passu with all its other existing and future unsubordinated obligations. The Notes will be listed on the Singapore Stock Exchange. The proceeds will be used for capital expenditure purposes in accordance with the RBI guidelines and regulations. 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.