India’s state-owned power generator, NTPC, today said it has signed a term loan agreement of Rs 5,000 crore with the State Bank of India (SBI).
“This loan has a door-to-door tenure of 12 years and will be utilised to part finance the capital expenditure of NTPC,” the firm said. The loan agreement was signed by Sudhir Arya, chief financial officer, NTPC and Neelabh Sinha, deputy general manager, SBI.
Earlier this year, NTPC had signed a term loan agreement with HDFC Bank worth Rs 1,500 crore. The company stated that the loan facility was extended at an interest rate linked to three-month Marginal Cost of Funds-based Lending Rate of the Bank. Read More