THDC bonds issue oversubscribed

State-run THDC India's corporate bonds issue has been oversubscribed six times receiving bids for Rs 3215 crore from investors against issue size of Rs 1500 crore, the company said on Friday.

THDC said it has issued corporate bonds series -II of Rs 1500 crore with base issue size of Rs 500 crore and green shoe option of Rs 1000 crore. “The coupon rate discovered is 8.75 per cent for Rs 1500 crore through BSE EBP platform with credit rating of AA+ and AA stable. The bidding was success with over subscription of more than 6 times of base issue size,” a statement issued by the company said.

The corporate bonds has tenor of 10 years and the bond proceeds shall be used to partly meet debt requirement of ongoing projects under construction and to refinance the existing loans, it said.

THDC has an installed power generation capacity of 1513 mw with commissioning of Tehri Dam (1000 mw), Koteshwar project (400 mw) and 50 mw wind power project at Patan, Gujarat.

THDCIL is implementing 1320 mw Khurja super thermal power project in Uttar Pradesh