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Markets | Tata Power to raise $300 mn selling bonds

Markets | Tata Power to raise $300 mn selling bonds
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First Published: Fri, Nov 06 2009. 10 58 PM IST
New Delhi: The country’s biggest non- state power producer, Tata Power Co. Ltd, said it plans to raise as much as $300 million selling bonds to fund projects aimed at doubling generation capacity in the next three years.
The bonds will carry a coupon of 1-1.75% and are convertible at 10% over the 5 November closing price of its shares on the National Stock Exchange, the utility said in a statement to the Bombay Stock Exchange on Friday.
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First Published: Fri, Nov 06 2009. 10 58 PM IST