New Delhi: State-run power giant National Thermal Power Corporation (NTPC) on Tuesday said it will raise $400 million through 10-year dollar-denominated bonds that carry 4.5% interest.

The bonds, part of $6 billion fund raising plan, will be listed on Singapore Exchange Securities Trading Ltd and India International Exchange IFSC.

In a BSE filing, NTPC said the funds would be used for capital expenditure of the ongoing as well as new projects, coal mining projects and renovation and modernisation.

The bonds worth $400 million at 4.5%, due in 2028, will be issued as part of $6 billion medium-term note programme by NTPC.

As per the Union Budget, NTPC’s capital expenditure is planned at Rs23,000 crore for the next financial year compared to Rs28,000 crore in 2017-18.

The funds raised through this issue would be used for projects in India only.

In a separate filing, the company said the third unit of 800 MW of Kudgi Super Thermal Power Station (3 x 800 MW) has been commissioned on 12 March, 2018. With this, the total commissioned capacity of the station has become 2400 MW.

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