NTPC fires up 10yr loan in primary

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By Shruti Chaturvedi
02 Jan 2018

A $350m-equivalent yen denominated borrowing for Indian power financier National Thermal Power Corp (NTPC) has entered primary syndication, testing the market’s appetite for a 10 year maturity.

In a request for proposals the company sent out last July, it was looking for a dollar loan. But by October, it was clear that commercial lenders were not keen on funding that long a tenor in dollars. 

NTPC eventually mandated Bank of Tokyo-Mitsubishi UFJ, Mizuho and Sumitomo ...

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