NTPC signs agreement for term loan of US$ 100 million with KFW of Germany

National Thermal Power Corporation Ltd (NTPC) has announced that the Company signed an agreement for a term loan of USD 100 million with KFW of Germany on March 23, 2007 at Frankfurt am Main. While previously KFW routed finding for the Company's projects through the Government of India, this is the first loan directly provided by them to the Company.

The loan is unsecured facility without sovereign guarantee bearing variable interest linked to LIBOR and with a door to door maturity of 10 years. The funds would be utilized to part finance the expenditure on Renovation and Modernization (R&M) of the Company's power plants.

Source : Equity Bulls

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