The National Thermal Power Corporation (NTPC) has upsized the medium-term note (MTN) program to $6 billion. The state-run power generator also issued rupee denominated bonds worth Rs.50 billion (~$772.14 million) for sale in the overseas market. The funds will be utilized to finance capital expenditures on new and ongoing NTPC projects.
The NTPC’s Board of Directors approved the upsizing of the $4 billion (~Rs.259 billion) MTN program to $6 billion (~Rs.388.52 billion) to raise debt from international markets, stated the NTPC in a BSE filing.
Mercom previously reported that the NTPC raised Rs.20 billion (~$305.47 million) through the issuance of Green Masala Bonds in the overseas market. Those bonds were issued under NTPC’s MTN program.