NTPC’s Bond Issue oversubscribed by 1.74 times
NTPC Ltd issued its 61st series of Bonds today for a door-to-door maturity of 15 years. Bids amounting to Rs. 1305 crore were received against issue size of Rs. 750 crore.After creating pricing tension, coupon of 8.10 % was achieved which was inside of Corporate 10-year “AAA” yield curve by 10 -14 basis points and an amount of Rs. 1072.50 crore was allocated to successful bidders.
The proceeds of the issue will be utilized for capital expenditure. NTPC is rated “AAA” by CRISIL, CARE and ICRA and the bond issue was also rated “AAA”.