NTPC ties up loan with KfW
28th Jun, 2013
NTPC tied up a fixed interest term loan facility for EUR 95 million with KfW, the German Government Developmental Financial Institution to part finance the capital expenditure on renovation and retrofitting of Electro Static Precipitators at its various stations to reduce fly ash emissions. The loan agreement was executed by Shri A.K. Singhal, Director(Finance), NTPC on 27th June 2013 at New Delhi.
NTPC is one of the few companies around the world considered by the German government for lending on a standalone basis without sovereign guarantee. “The deal reinforces the strong and long standing relationship between NTPC and KfW. It is indeed a great honour that KfW and the German government recognize NTPC as a sovereign. It very well reflects the strong credit quality and governance systems of the Company” Mr. Singhal said on the occasion.
The facility has a door to door maturity of 12 years including grace period of 4 years. The loan shall be repaid in 16 equal semi annual installments. KfW has in the past also provided financial cooperation to support the company’s renovation and modernization and expansion schemes.
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