India’s NTPC to issue 3-month CP – traders

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MUMBAI — India’s NTPC Ltd plans to raise funds by selling commercial papers maturing in three months, three merchant bankers said on Monday.

The state-run power company will offer a yield of 5.79% on this issue, and it has received commitments worth around 15 billion rupees ($188.41 million), they said.

The notes are rated A1+ by CRISIL. ($1 = 79.6120 Indian rupees) (Reporting by Dharamraj Lalit Dhutia;; Editing by Rashmi Aich)

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