By Christine Van Dusen
Atlanta, Sept. 24 - India's NTPC Ltd. priced $500 million 4¾% 10-year notes (/BBB-/BBB-) at 99.89 to yield 4.764%, or Treasuries plus 305 basis points, a market source said.
The notes were talked at a spread of Treasuries plus 305 bps to 310 bps.
Barclays, Citigroup, Deutsche Bank and RBS were the bookrunners for the Regulation S deal.
The notes include a change-of-control put if India ceases to own more than 50% of the voting securities.
NTPC is a state-owned electric utility company based in New Delhi.
Issuer: | NTPC Ltd.
|
Amount: | $500 million
|
Maturity: | Oct. 3, 2022
|
Description: | Senior notes
|
Bookrunners: | Barclays, Citigroup, Deutsche Bank, RBS
|
Coupon: | 4¾%
|
Price: | 99.89
|
Yield: | 4.764%
|
Spread: | Treasuries plus 305 bps
|
Change-of-control put: | If government of India ceases to own more than 50% of voting securities
|
Trade date: | Sept. 24
|
Settlement date: | Oct. 3
|
Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
Distribution: | Regulation S
|
Price talk: | Treasuries plus 305 bps to 310 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.