Excelsior Correspondent
JAMMU, Apr 23: National Hydroelectric Power Corporation (NHPC) raised Rs 750 Crores today through private placement of bonds at very competitive interest rate of 6.80 percent per annum for loan tenure of 10 years.
As per the statement, the issue structure consists base size of Rs 500 Crores with Green Shoes option of Rs 250 Crores.
The issue was taken very overwhelmingly by the market and oversubscribed 3.87 times i,e for Rs 2899 Crores amid outbreak due to COVID-19. The coupon rate of 6.80 percent is the lowest in the current fiscal and lower by 30 paisa or 0.30 percent than the prevailing AAA rated 10 years bonds at 7.10 percent.
“NHPC carries highest credit credentials and is rated AAA by leading rating agencies,” the statement added.
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