NHPC board approves $100 million fund raising from Japan's largest bank

State-owned NHPC on Friday said its board has approved raising around $100 million from MUFG Bank, Japan's largest bank, to partly finance its ongoing projects. The company's board, which met Friday, has approved raising of fund through external commercial borrowing (ECB) in JPY equivalent to USD 100 million from MUFG Bank to part finance the capital expenditure on on-going projects, other permissible activities, NHPC said in a regulatory filing.

The board also approved issuance of "fully serviced bonds" of up to Rs 2,017.20 crore as per mandate given by the government for 2018-19 through unsecured, redeemable, taxable, non-cumulative, non-convertible, taxable bonds in one or more series or tranches on private placement basis from domestic market, it added.

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