NTPC euro bond issue oversubscribed 5 times
DSIJ Intelligence / 27 Jan 2017
NTPC, the public sector power producing major, is all set to raise 500 million euros through a 10-year bond.
NTPC, the public sector power producing major, is all set to raise 500 million euros through a 10-year bond.
NTPC has already received bids of nearly 2.4 billion euros from 125 different investors across the globe, which is almost five times the stipulated size of the issue. The issue would be the largest euro-denominated bond ever by an Indian company and probably the first time an Asian utility company has issued a 10-year euro denominated bond. NTPC would utilise the issue proceeds towards capital expenditure.
The stock of NTPC spiked up by about 1.5 per cent during the first hour of trading on Friday morning on the back of this news.
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