New Delhi, 13 June 2025: NTPC Ltd has signed a foreign currency loan agreement amounting to USD 750 million with the IFSC Banking Units (IBUs) of Bank of Baroda and HDFC Bank located in GIFT City, Gandhinagar.
This unsecured, syndicated External Commercial Borrowing (ECB) facility comprises a base amount of USD 500 million and a greenshoe option of USD 250 million. Bank of Baroda and HDFC Bank acted as Mandated Lead Arrangers, underwriting USD 500 million (base amount by Bank of Baroda) and USD 250 million (greenshoe portion by HDFC Bank), respectively. The loan has a door-to-door tenor of 10 years, with an average maturity of 7 years.
Proceeds from the facility will be utilised by NTPC to fund capital expenditure for ongoing and upcoming capacity addition programs, Flue Gas Desulphurisation (FGD) projects, renewable energy and hydro-based projects, and refinancing of existing ECBs, in line with the Reserve Bank of India’s ECB Guidelines.
This marks the largest foreign currency lending by Bank of Baroda and the first-ever foreign currency loan extended by HDFC Bank to NTPC. The transaction underscores the banks’ support for NTPC’s mission to deliver efficient and affordable power, as the company targets a diversified energy portfolio of 130+ GW by 2032 while minimising its carbon footprint.
The loan agreement was signed by Shri Arvind Babu, General Manager (Finance), Shri S N Patra, DGM & Head-IFSC Banking Unit, Shri Rajiv Mishra, Chief Manager, Bank of Baroda, Shri Moti Thakur, Deputy Vice President and Shri Ashutosh Kumar, Sr Vice President, HDFC Bank on 11th June, at a ceremony held in GIFT City, Gandhinagar, Gujarat,
