NTPC raises 500 mn Euros through overseas bonds

It is the first-ever ten-year Euro denominated bond issuance by an Asian utility issuer

GN Bureau | February 3, 2017


#overseas bonds   #NTPC   #PSU  
National thermal power corporation (NTPC) limited – a Maharatna enterprise has successfully issued its first Euro denominated bond worth EUR 500 million on January 25.
 
The 10-year-bond has been issued at a coupon of 2.75 percent with a yield of 2.814 percent. The issue saw a price compression of 25 bps from the initial price guidance level of 225 bps area over mid swap level. According to a NTPC release, it is the first-ever ten-year Euro denominated bond issuance by an Asian utility issuer and also first-ever ten-year EUR transaction by an Indian issuer. The bonds will be listed at Frankfurt and Singapore stock exchanges.
 
The issue was oversubscribed around 4.5 times and saw participation from more than 125 accounts across the globe.
 

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