Home >industry >energy >NHPC board to consider raising up to Rs900 crore
Photo: Bloomberg
Photo: Bloomberg

NHPC board to consider raising up to Rs900 crore

NHPC is considering raising funds to meet debt requirement and refinancing of Power Finance Corporation loan

New Delhi: NHPC Ltd on Friday said its board will next week consider raising up to 900 crore through issuance of secured non-convertible corporate bonds on private placement basis to meet debt requirement and refinancing Power Finance Corp. Ltd (PFC) loan.

“A meeting of the Board of Directors will be held on April 26, 2016 to consider raising of debt up to 900 crore through issuance of U-Series secured Redeemable Non cumulative Non Convertible Corporate bonds in the nature of debentures on private placement basis to meet debt requirement of Parbati-ll project and to refinance PFC loan for TLDP-IV Project," the state-run firm said in a filing to BSE Ltd.

“Out of this, 276 crore will be covered under IEBR 2016-17 and balance for recoupment of IR and refinance purpose," the filing said.

In a separate filing, NHPC said Rangit 3X20 megawatt (MW) power station in Sikkim, under complete shutdown from 18 April for replacement of MIV Seal of Unit 2, has started generation on 21 April.

The company has a cash reserve of around 6,000 crore.

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

Close
×
My Reads Logout