NTPC, India’s largest power generating company, has signed term loan agreement for Rs. 1,500 crore with HDFC Bank Limited on 10th July, 2018 for its various projects. The loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC and has been extended at an interest rate linked to 3-months Marginal Cost of funds based Lending rate (MCLR) of the bank.
The loan agreement was signed was signed in the presence of Shri A. K. Gautam, General Manager (Finance), NTPC, Shri Raveesh Bhatia, Regional Head, Corporate Banking, North, HDFC Bank Ltd., and Shri K. Sreekant, Director (Finance), NTPC Ltd.
The proceeds of the facility will be utilized to finance capital expenditure on the company’s ongoing and new projects, and in the renovation and modernization of stations.