Financial Daily from THE HINDU group of publications
Wednesday, Feb 15, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 15, 2006 |
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Corporate
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Overseas Borrowings NTPC to raise $ 1 b in debt Our Bureau
NEW DELHI: NTPC Ltd has announced the signing of an agreement to raise up to $1 billion from overseas debt markets. The `Medium Term Note' programme would facilitate raising funds on a regular basis from the international debt capital markets, NTPC told the BSE. The programme was signed today in Hong Kong, it added. The company has mandated Barclay's Capital, a division of Barclays Bank Plc, and Deutsche Bank AG as lead arrangers for the programme, which has obtained `BB+' ratings from both Standard & Poor's and Fitch. NTPC's programme to raise the debt is in line with its huge investment programme to become a 40,000 MW power generating corporation by 2012. The company has power projects totalling over 8,500 MW under construction; they are expected to be completed in 2-3 years. These projects, which are in various stages of construction and require continuous funds, are likely to be financed with the programme borrowings.
More Stories on : Overseas Borrowings | Power
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