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India’s NTPC settles tenders for rupee-to-dollar notes due 2021, 2022
By Cady Vishniac
Detroit, Dec. 22 – NTPC Ltd. has settled a tender offer for its Rs. 20 billion 7 3/8% notes due 2021 (ISIN: XS1467374473) and Rs. 20 billion 7¼% notes due 2022 (ISIN: XS1604199114), payable in U.S. dollars, according to a news release.
The company accepted Rs. 9.93 billion of 2021 notes and Rs. 920 million of 2022 notes.
Exchange rates were determined on Dec. 18. The dollar price was $136,027.40, the equivalent of Rs. 10 million, for the notes, plus interest of $2380.48, or $136,027.40, for the 2021 notes and $3,060.62, or Rs. 225,000, for the 2022 notes.
The offer expired at 11 a.m. ET on Dec. 15.
Dealer managers on the offer were Axis Bank Ltd., Singapore Branch, Barclays, MUFG Securities Asia Ltd. and Standard Chartered Bank.
The information agent and tender agent was Lucid Issuer Services Ltd.
NTPC is a New Delhi-based power company.
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