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India's NTPC launches bond at 140 BPS over UST

Written by: Staff

LONDON, Feb 23 (Reuters) India's largest power producer, National Thermal Power Corp. (NTPC), launched a 10-year 0 million bond on Thursday with a spread of 140 basis points over U.S. Treasuries, a market source in London said.

Pricing is expected shortly on the first dollar bond issue from India this year, the source said.

Earlier, a market source in Asia said the deal had attracted .5 billion of orders. On Wednesday NTPC lowered the yield guidance from an initial 145 to 155 basis points over Treasuries.

Barclays Capital and Deutsche Bank are joint book-runners for the proposed bond issue.

Standard&Poor's rates the issue 'BB+'.


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