NTPC to raise $750 million from BoB, HDFC

Mumbai: NTPC, India's largest power producer, has signed an agreement to raise $750 million external commercial borrowing term loan (base issue of $500 million and greenshoe of $250 million) of 10 years.

Of this $500 million was raised from Bank of Baroda (BoB) and $250 millon from HDFC Bank. The deal was executed through the IFSC banking units of BoB and HDFC in GIFT City. Loan proceeds will be used for financing of NTPC's capital expenditure.