NTPC signs Rs 2,000 cr term loan pact with Canara Bank

State-run power giant NTPC said Friday it has inked a term-loan agreement with Canara Bank to raise Rs 2,000 crore, which would be used to part finance its capital expenditure.

“A term loan agreement for Rs 2,000 crore was signed with Canara Bank on April 5, 2019. The loan facility is extended at an interest rate linked to 3-Month MCLR of the Bank,” an NTPC statement said.

The loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of the NTPC, the statement said.

In February this year, NTPC had signed a term loan agreement for Rs 5,000 crore with State Bank of India. The loan facility from SBI was also aimed at part financing the company’s capital expenditure.

[“source=moneycontrol”]