NTPC ties up USD 250 million term loan facility
21st Feb, 2013
NTPC tied up a term loan facility of USD 250 million with State Bank of India, New York Branch and Mizuho Corporate Bank, Limited., Singapore Branch as Arrangers and Lenders. The loan agreement was signed recently in New York by Shri A.K. Singhal, Director (Finance) on behalf of the Company. The proceeds of the loan shall be utilized towards capital expenditure for procurement of goods and services for the ongoing and new projects and renovation and modernization of stations of the company. The loan carries a floating rate of interest linked to LIBOR and has a door to door maturity of 7 years.
With the execution of the facility the company has raised USD 750 million in the current financial year, the maximum amount permitted under the Automatic Route of the ECB guidelines issued by the RBI.
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