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NTPC Ltd plans to raise up to $750 mln worth of external commercial borrowings in the Japanese yen, in the form of unsecured term loans maturing in up to 10 years, the company said via an exchange filing. The issue has a $150 million base size and a $600 million greenshoe option.
The State Bank of Vietnam (SBV) is collecting opinions from organisations and individuals on the Prime Minister's draft decision on offshore loans and guarantees for non-residents of economic organisations.
The nation’s biggest and oldest steelmaker has already cut its debt by more than $3 billion in the past three years. Strong global demand and high prices for steel since last year have increased the company’s cash flow, allowing Tata Steel to continue with debt reduction as it seeks to lower interest cost and increase future profitability.
“The company is working on a dedicated structure through which the whole sum will be raised for those four projects,” said one of the people. The four include the Western Region Strengthening Scheme, Lakadia Banaskantha Transco, Kharghar Vikhroli Transmission and the Mumbai High Voltage Direct Current project.