off-the-wire

India New Issue-NHPC set to tap bond market after 2-year hiatus - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Bhakti Tambe and Dharamraj Dhutia MUMBAI, Feb 14 (Reuters) - India's NHPC is set to hit the bond market to raise funds via private placement after a gap of two years, two merchant bankers said.


The state-run hydroelectric power generation company is likely to raise around 10 billion rupees ($121.07 million) through a sale of separately transferable redeemable principal parts (STRPP) bonds maturing in three to 12 years.


The company did not immediately respond to a Reuters request for comment. "NHPC has already alerted bankers and will invite bids for the issue this week," one of the bankers with direct knowledge of the matter said.


The notes carry a AAA rating. In February 2021, NHPC raised 15 billion rupees via STRPP bonds maturing in six to 15 years at an annual coupon of 6.86%. ($1 = 82.5940 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Dhanya Ann Thoppil Editing by)

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