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Infrastructure Today Magazine | NHPC Raises Rs 7.5 Billion Through Private Placement
NHPC Raises Rs 7.5 Billion Through Private Placement
Apr 23, 2020
Government-owned hydropower developer NHPC Ltd raised Rs 7.5 billion on Thursday through private placement of bonds at very competitive interest rate of 6.80 per cent per cent for a loan tenure of 10 years. The company has said that the issue structure consists base size of Rs 5 billion with greenshoe option of Rs 2.5 billion.
The company has also said that the issue received an overwhelming response from buyers and was oversubscribed 3.87 times to Rs 28.99 billion amid the COVID-19 outbreak. The coupon rate of 6.80 per cent is the lowest in the current fiscal, and lower by 30 bps or 0.30 per cent than the prevailing AAA rated ten-year bonds at 7.10 per cent. NHPC carries highest credit credentials and is rated AAA by leading rating agencies.
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