India NTPC invites bids to raise up to 10 bln rupees via bonds

MUMBAI, June 19 Wed Jun 19, 2013 12:21am EDT

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MUMBAI, June 19 (Reuters) - NTPC Ltd, India's largest power producer, is planning to raise up to 10 billion rupees ($170.17 million) through an issue of dual tranche bonds, a term sheet seen by Reuters showed.

The firm is planning to issue 10-, and 15-year bonds, as per the document.

Part of the proceeds from the bond sale will be used for NTPC's ongoing capacity addition programme, renovating and modernising scheme, coal mining project besides refinancing debt, it said in the document.

The company has invited bids on Thursday and has scheduled the pay-in date on July 28.

($1 = 58.7650 Indian rupees) (Reporting by Archana Narayanan; Editing by Sunil Nair)

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