National Thermal Power Corporation on Thursday said it has sought offers from global bankers including ABN Amro, Rabo Bank, BNP Paribas, Deutche Bank and State Bank of India for arranging a syndicated loan of $100 million to part finance its capital investment during the current fiscal.
"We have asked 19 international banks for $100 million external commercial borrowings and the offer will close on May 19," NTPC's director finance P Narasimharamulu said in New Delhi.
The corporation had capital investment plans of Rs 4,500 crore (Rs 45 billion) during the current financial year, he said.
The external borrowing, the first during 2003-04, would be used for the ongoing and new projects, he added.
He said ECB was planned at this juncture to take advantage of lower interest rates world over.
Narasimharamulu said once the arranger was selected on the basis of 'best offer' (lowest interest rate), the corporation might go for road shows by next month on the recommendation of the mandated bank.
Based on the response for the $100 million ECB issue, NTPC could consider the option of borrowing more from the global market, he said
During the current fiscal, the corporation is expected to go for a borrowing of upto Rs 3,200 crore (Rs 32 billion), he added.
