Published on 2/23/2016 in the Prospect News Emerging Markets Daily.
New Issue: India’s NTPC prices $500 million 4¼% notes due 2026 at 255 bps spread
By Christine Van Dusen
Atlanta, Feb. 23 – NTPC Ltd. priced $500 million 4¼% 10-year notes (expected ratings: BBB-/BBB-) at 99.469 to yield Treasuries plus 255 basis points on Tuesday, a market source said.
Barclays, Citigroup, Deutsche Bank, HSBC and SBI Capital Markets were the bookrunners for the Regulation S deal.
NTPC is a New Delhi-based power company.
| Issuer: | NTPC Ltd.
|
| Amount: | $500 million
|
| Maturity: | Feb. 26, 2026
|
| Description: | Notes
|
| Bookrunners: | Barclays, Citigroup, Deutsche Bank, HSBC, SBI Capital Markets
|
| Coupon: | 4¼%
|
| Price: | 99.469
|
| Spread: | Treasuries plus 255 bps
|
| Trade date: | Feb. 23
|
| Settlement date: | Feb. 26
|
| Expected ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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