NTPC signs loan pacts worth Rs 1,870 crore with 3 PSBs | business | Hindustan Times
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NTPC signs loan pacts worth Rs 1,870 crore with 3 PSBs

business Updated: Apr 02, 2013 12:57 IST

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State-owned NTPC today said it has signed loan agreements worth Rs 1,870 crore with three public sector banks, to partially finance its capital expenditure plans.

"NTPC signed three loan agreements aggregating to Rs 1,870 crore with Punjab and Sindh Bank (Rs 570 crore), Andhra Bank (Rs 300 crore) and Canara Bank (Rs 1,000 crore) recently," the company said in a statement.

The loans have been extended at the respective base rates of the bank, which is the bare minimum rate at which a bank can lend, the statement said.

These loans have a tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC, it added.

Shares of the company were trading at Rs 143.80, up 0.24 per cent on the BSE.