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NTPC completes sale of notes worth USD 300 mn

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Mumbai, Feb 24 (UNI) National Thermal Power Corporation (NTPC) has completed the sale of US dollar 300 million of notes.

The bond offering represents the first drawdown of the company's new USD one billion medium term note programme.

The notes, maturing in March 2016, were priced in London at 140 bps over the benchmark ten year US Treasury, with a coupon of 5.875 per cent.

The notes have been given ratings of BB+ from both Standard&Poor's and Fitch ratings.

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