NTPC raises $750 million ECB term loan 

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.
| Photo Credit: FRANCIS MASCARENHAS

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.”