Neepco plans Rs 60 cr bond issue
Kolkata: North-Eastern Electricity Power Corporation (Neepco) has entered the capital market with a private placement of secured, tax-free, redeemable non-convertible bonds to mop up Rs 60 crore.

The tax-free 10-year bond, with a coupon of 9.85 per cent payable annually, carries a call and put option exercisable at the end of seven years.

Each bond with a face value of Rs 5,00,000 is eligible for investment by corporates, banks, FIs, regional rural banks, port trusts, mutual funds, provident funds, gratuity funds and superannuation funds.

Neepco will utilise the proceeds to part-finance the various ongoing projects and discharge the capital liabilities of the corporation.
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