SBI to extend Rs 5,000 cr term loan to NTPC

#dailynews60 : Power generation company NTPC on Saturday said it has signed a term loan agreement for Rs 5,000 crore was signed with State Bank of India (SBI).

The loan facility has been extended at an interest rate linked to 3-month MCLR (marginal cost of funds-based lending rate) of the bank and has a door-to-door tenure of 15 years, NTPC said in a statement.

The loan will be utilised to part finance the capital expenditure of NTPC, it said.

NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian Public Sector Undertaking, engaged in the business of generation of electricity and allied activities. It is a company incorporated under the Companies Act 1956 and is promoted by the Government of India.

The headquarters of the company is situated at New Delhi.

NTPC’s core business is generation and sale of electricity to state-owned power distribution companies and State Electricity Boards in India. The company also undertakes consultancy and turnkey project contracts that involve engineering, project management, construction management and operation and management of power plants.