NTPC raises $750 million ECB time period mortgage 

The proceeds of the ability shall be utilised in direction of financing of NTPC’s capital expenditure for current or new capability addition programmes, together with flue gasoline desulphurisation initiatives, renewable vitality initiatives (together with hydro-based initiatives) and refinancing of current Exterior Industrial Borrowing for capital expenditure functions.
| Picture Credit score: FRANCIS MASCARENHAS

NTPC Ltd. has signed a Facility Settlement to lift an unsecured $750 million Exterior Industrial Borrowing (ECB) Syndicated Time period Mortgage facility (base situation of $500 million and greenshoe possibility of $250 million) with door-to-door Tenor of 10 years and common maturity of seven years. 

Financial institution of Baroda (Financial institution) acted because the mandated lead arranger and underwriter of the transaction for $500 million, whereas HDFC Financial institution was the mandated lead arranger and bookrunner for the greenshoe portion of $250 million. 

The deal was executed by means of the IFSC Banking Items (IBU) of Financial institution of Baroda and HDFC Financial institution in GIFT Metropolis, Gandhinagar, in keeping with an announcement.

The proceeds of the ability shall be utilised in direction of financing of NTPC’s capital expenditure for current or new capability addition programmes, together with flue gasoline desulphurisation initiatives, renewable vitality initiatives (together with hydro-based initiatives) and refinancing of current Exterior Industrial Borrowing for capital expenditure functions.

Jaikumar Srinivasan, Director (Finance), NTPC Ltd stated, “The corporate is spearheading a transformative growth of its vitality portfolio, with a strategic imaginative and prescient to attain 60 GW of renewable capability by 2032 and elevate its complete put in capability from 80 GW to 130 GW+. This bold trajectory underscores our management in sustainable vitality and its dedication to a balanced, future-ready energy ecosystem.”

Lalit Tyagi, Government Director, Financial institution of Baroda stated, “This deal demonstrates Financial institution of Baroda’s capabilities in world infrastructure financing in addition to highlights the important thing function performed by our IFSC Banking Unit in facilitating strategic, cross-border funding by means of GIFT Metropolis.”