NTPC offers to buy back masala bonds worth `4k cr

New Delhi: State-run power giant NTPC has made an offer to buy back its masala bonds worth Rs 4,000 crore from bondholders or lenders.

Masala bonds are issued outside India but denominated in Indian rupees, rather than the local currency. NTPC has launched a cash tender offer to buy the masala bonds worth totaling Rs 4,000 crore. According to company statement, the offer include the rupee denominated Rs 2,000-crore 7.375 per cent notes issued on August 10, 2016, payable In USD and due on August 10, 2021 (''2021 notes''). The offer also includes rupee denominated Rs 2,000-crore 7.25 per cent notes issued on May 3, 2017, payable In USD and due on May 3, 2022.

The company had issued the 2021 notes, which are currently listed on Singapore Exchange Securities Trading Limited (SGX-ST), the London Stock Exchange's Professional Securities Market, the NSE IFSC Limited (NSE IFSC) and the India International Exchange (IFSC) Limited (India INX). The 2022 notes are currently listed on SGX-ST, London Stock Exchange's International Securities Market, NSE IFSC and India INX.