NTPC to issue NCDs worth ₹3,996 cr

NTPC has decided to issue unsecured non-convertible debentures worth ₹3,996 crore on April 20, through the private placement route, at a coupon of 6.87 per cent per annum. The proceeds will be used forthe funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on the NSE. These bonds are issued under the approval obtained through shareholders' resolution on September 24, 2020, the company said in a notice to the stock exchanges. Shares of NTPC closed one per cent higher at ₹102.40 on the BSE.