NTPC offers to buy back bonds worth Rs. 4,000 cr

NTPC Limited has offered to buy back its masala bonds due in August 2021 and May 2022. In a statement to the BSE, NTPC said that it is proposing a cash tender offer for rupee bonds worth Rs. 4,000 crores that have been issued by the company in two tranches of Rs. 2,000 crore each during August 2016 and May 2017. Both these bonds are payable in US dollars.

The bonds due on August 10, 2021 were issued at a coupon rate of 7.375 per cent notes while those due on May 3, 2022 were at a coupon rate of 7.25 per cent.

Both these notes are currently listed on Singapore Exchange Securities Trading Limited (SGXST), the NSE IFSC Limited (NSE IFSC) and the India International Exchange (IFSC) Limited (India INX).