India’s largest energy conglomerate, the National Thermal Power Corporation Private Limited (NTPC) called for a request for proposals (RFP) from banks and financial institutions to raise ₹5,000 crore through term loan by August 31, 2022.
In its RFP, the company highlighted about the capital expenditure for all the undergoing projects- takeover projects, renewable energy projects, coal mining business, several projects on renovation and modernisation program, refinancing of loans and spending involved for general corporate purposes.
“We hereby seek participation of banks/FIs (financial institutions) for the subject RFP (RFP of up to ₹5,000 crore term loan),” NTPC affirmed.
The company also highlighted that the support made by any financial institutions or the banks should start from a minimum amount of ₹500 crore and rise in its multiples. Besides, the bids must be assessed on the basis of the mentioned rate of interest.
“You are requested to quote the lowest rate of interest linked to MCLR or linked to any other market determined external benchmark,” as stated in the RFP document.
The RFP stressed on the fact that the term loans of NTPC are rated AAA (Stable) according to the rating agencies like CRISIL, ICRA, CARE and other India-based ratings.
In its upcoming annual general meeting on August 30, 2022, NTPC would make an attempt to pursue its shareholders to raise funds up to ₹12,000 crore by allocating bonds or debentures on private placement basis.
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