Latest news with #JaikumarSrinivasan
The Hindu
11-06-2025
- Business
- The Hindu
NTPC raises $750 million ECB term loan
NTPC Ltd. has signed a Facility Agreement to raise an unsecured $750 million External Commercial Borrowing (ECB) Syndicated Term Loan facility (base issue of $500 million and greenshoe option of $250 million) with door-to-door Tenor of 10 years and average maturity of 7 years. Bank of Baroda (Bank) acted as the mandated lead arranger and underwriter of the transaction for $500 million, while HDFC Bank was the mandated lead arranger and bookrunner for the greenshoe portion of $250 million. The deal was executed through the IFSC Banking Units (IBU) of Bank of Baroda and HDFC Bank in GIFT City, Gandhinagar, according to a statement. The proceeds of the facility will be utilised towards financing of NTPC's capital expenditure for existing or new capacity addition programmes, including flue gas desulphurisation projects, renewable energy projects (including hydro-based projects) and refinancing of existing External Commercial Borrowing for capital expenditure purposes. Jaikumar Srinivasan, Director (Finance), NTPC Ltd said, 'The company is spearheading a transformative expansion of its energy portfolio, with a strategic vision to achieve 60 GW of renewable capacity by 2032 and elevate its total installed capacity from 80 GW to 130 GW+. This ambitious trajectory underscores our leadership in sustainable energy and its dedication to a balanced, future-ready power ecosystem.' Lalit Tyagi, Executive Director, Bank of Baroda said, 'This deal demonstrates Bank of Baroda's capabilities in global infrastructure financing as well as highlights the key role played by our IFSC Banking Unit in facilitating strategic, cross-border funding through GIFT City.'
Time of India
11-06-2025
- Business
- Time of India
NTPC raises $750 million via ECB loan to fund capacity expansion, green projects
New Delhi: State-run NTPC Ltd has raised $750 million through an External Commercial Borrowing (ECB) syndicated term loan to finance its capital expenditure for capacity addition and renewable energy projects . According to a statement, NTPC signed a Facility Agreement for the $750 million unsecured ECB loan with a door-to-door tenor of 10 years and an average maturity of 7 years. The loan comprises a base issue of $500 million and a greenshoe option of $250 million. Bank of Baroda acted as the Mandated Lead Arranger and Underwriter for the $500 million portion, while HDFC Bank was the Mandated Lead Arranger and Bookrunner for the greenshoe portion of $250 million. Both banks executed the transaction through their IFSC Banking Units (IBUs) in GIFT City , Gandhinagar. The proceeds will be used to fund NTPC's capital expenditure towards new and existing capacity addition programmes, including flue gas desulphurisation projects, renewable energy projects—such as hydro-based facilities—and refinancing of existing ECBs in line with Reserve Bank of India's ECB Guidelines. Jaikumar Srinivasan, Director (Finance), NTPC Limited, said, 'NTPC is spearheading a transformative expansion of its energy portfolio, with a strategic vision to achieve 60 GW of renewable capacity by 2032 and elevate its total installed capacity from 80 GW to 130 GW+.' He added that the partnership with Bank of Baroda and HDFC Bank would support the company's growth ambitions. Lalit Tyagi, Executive Director, Bank of Baroda said, 'We are delighted to work with NTPC on this landmark ECB transaction and support their financing requirements. This deal demonstrates Bank of Baroda's capabilities in global infrastructure financing as well as highlights the key role played by our IFSC Banking Unit in facilitating strategic, cross-border funding through GIFT City.' Ashutosh Kumar, Senior Vice President & Regional Head – PSU, Corporate Banking at HDFC Bank said, 'This ECB transaction not only reinforces GIFT City's growing stature as a global financial hub but also marks a significant milestone in enabling strategic partnerships. Facilitating this deal with a Maharatna like NTPC enhances confidence in the ecosystem and unlocks new opportunities across the financial landscape.' The transaction underlines the growing importance of GIFT City as a global financial hub, enabling efficient and globally competitive offshore banking solutions from India. Bank of Baroda is one of the early entrants at GIFT City, commencing operations in 2017.
