India New Issue-NHPC sets 7.59% coupon for STRPP bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 16 (Reuters) - India's NHPC has set 7.59% coupon for separately transferable redeemable principal parts (STRPP) bonds maturing in four years to 15 years, three merchant bankers said on Thursday. The state-run hydroelectric power generation company had invited coupon and commitment bids for the issue earlier in the day and accepted bids worth 9.96 billion rupees ($120.53 million), they said. The notes are rated AAA by CARE Ratings and India Ratings, and the issue will close for subscription on Friday. In February 2021, NHPC had raised 15 billion rupees via STRPP bonds maturing in six to 15 years at an annual coupon of 6.86%. ($1 = 82.6325 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)

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