NHPC raises Rs 750 crore at 6.8% through bonds
NHPC raises Rs 750 crore:
For a ten-year loan term of NHPC Ltd, Rs 750 crore raised by means of private bond placements at 6.8% per year. The issue structure consists of the base size of Rs 500 crore with an option of Rs 250 crore greenshoe according to a company statement.
NHPC said the issue was 3.87 times (or for Rs 2,899 crore) over-subscribed in the midst of COVID-19. In the current fiscal period, a coupon rate of 6.8%, lower than the existing AAA’s rate of 10 years bonds by 30 bps or 0.30 percent, at 7.1 percent.
NHPC holds leading rating agencies with the highest credit and AAA ratings. The National Hydroelectric Power Company was formerly known as the NHPC.
April 24th Stock Market
On the fifth day of the week, the stock market trading with the bearish trend. The Sensex traded with a loss of 404.35 points reached 31,458.73 level with 1.27% down. Whereas, Nifty traded with a loss of 115.70 points reached 9,198.20 level with 1.24% down.
In the border market, the S&P BSE Midcap traded with a loss of 114.94 points reached 11,556.31 with 0.98% down. Whereas, S&P BSE SmallCap traded with a loss of 89.89 points reached 10,695.15 with 0.83% down. At the same time, Nifty bank traded with a loss of 545.15 points reached 19,722.80 with 2.69% down.