NHPC board to consider proposal to raise up to Rs 2,017 cr via bonds on Friday

New Delhi: State-owned hydro power giant NHPC said Wednesday that its board would on Friday consider a proposal to raise up to Rs 2,017.20 crore through taxable non-convertible bonds on a private placement basis.

"The NHPC board in its meeting on Friday will consider proposal to issue 'GOI Fully Serviced Bonds' worth up to Rs 2,017.20 crore as per mandate given by the Government of India for 2018-19," the company said in a statement.

The unsecured, redeemable, non-cumulative, non-convertible, taxable bonds will be issued in one or more tranches on a private placement basis in the domestic market, it added.

Besides, it said the company would also consider a proposal to raise funds through external commercial borrowing in the Japanese yen equivalent to USD 100 million from MUFG Bank, Japan's leading lender, to part-finance capital expenditures for on-going projects and other permissible end-uses.