India's NHPC to issue Rs. 20 billion of bonds via private placement

By Susanna Moon

Chicago, July 27 – NHPC Ltd. notified the Bombay Stock Exchange that it plans to issue up to Rs. 20 billion of corporate bonds in a private placement.

The issue was approved at a board meeting held Thursday, according to a company notice.

The company’s board had considered selling up to Rs. 50 billion of the bonds and opted to sell up to Rs. 20 billion instead, the release noted. The issue requires shareholder approval.

At the meeting, the company’s board of directors also discussed the possibility of raising of Rs. 4.94 billion of series W corporate bonds in a private placement, and the issue was “deferred,” according to a separate company notice.

The proposed issue would have been sold under the Rs. 45 billion issue approved by shareholders at a meeting held Sept. 22, 2016, the company previously noted.

NHPC is a hydropower generation company based in Faridabad, India.

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