NTPC prices tight $500m bond on rarity value

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By Rev Hui
23 Feb 2016

India’s National Thermal Power Corp (NTPC) ended an absence of more than a year from the international bond market this week with a tightly priced transaction that left little money on the table for investors.

NTPC was last seen in November 2014 when it raised $500m with a 4.375% 2024. That bond proved to be a hit with investors thanks to its rarity value and ended up more than four times subscribed.

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