Japan’s Mizuho Bank approves a $250 mn loan for NTPC
Japanese aid to boost Indian infrastructure has already started pouring. In a significant development, the Japanese Mizuho Bank has sanctioned a loan of $250 million to NTPC for funding expansion plans.
An NTPC statement says that NTPC “had signed a syndicated term loan facility of $250 million arranged by Mizuho Bank Limited, Singapore Branch. The proceeds of the facility will be utilized to finance capital expenditure on the company’s ongoing and new projects and renovation and modernization of stations.”
The loan carries a floating rate of interest linked to LIBOR (London Interbank Offered Rate of interest that high-end banks charge each other for loans) and has a door-to-door maturity of 7 years, the statement adds.