NHPC Limited, India’s premier hydropower company has entered into an Agreement with the State Bank of India (SBI) for a Term loan of Rs. 500 crore. The agreement was signed by H.S. Puri, Chief General Manager (Finance), NHPC and Satyajit Patra, Chief Manager, SBI in the presence of M.K. Mittal, Director (Finance), NHPC, Vijay Kumar, Executive Director (Finance), NHPC and Pradeep Kelshikar, General Manager (CAG), SBI.
The loan has tenor of 10 years with 3 years of moratorium period and the rate of interest is linked with one year MCLR (currently at 8.50%). The borrowed fund shall be utilized to finance the Capital expenditure.