NTPC mandates banks for dollar bond

One source said the deal may carry a 10-year maturity. They gave no further details.

India's largest power producer, National Thermal Power Corp. (NTPC), has mandated Barclays Capital and Deutsche Bank to handle the sale of a dollar bond, market sources said on Thursday.

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One source said the deal may carry a 10-year maturity. They gave no further details.

NTPC, rated BB-plus by Standard & Poor's, last tapped the offshore bond market in March 2004, when it sold $200 million in seven-year bonds.