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.
Wendy is a co-founder of Mercom Capital Group, the parent company of Mercom India. Wendy is a contributing editor at MercomIndia.com and is responsible for content quality across the company and products. She has over 15 years of business and finance experience in the energy and technology markets. In addition to Mercom, Wendy has written for many other clean energy-focused blogs and publications. More articles from Wendy Prabhu.