NTPC sets guidance for new international bond

India's NTPC wraps up roadshows for new $300 million 10-year deal.
National Thermal Power Corporation NTPC is expected to price its second international capital markets deal later this week with a proposed $300 million 10-year deal.

Under the lead management of BarclayÆs Capital and Deutsche Bank, the Ba2BBBB Fitch rated group has set price guidance at 145bp -155bp over 10-year Treasuries.

RoadshowÆs kicked off in Dubai on February 18, before moving to Singapore and Hong Kong earlier this week. RoadshowÆs will wrap up today February 22 in London, with pricing expected either Thursday or Friday. The order books is said to currently be about two-times oversubscribed.

NTPC first tapped the debt markets in January 2004 with a $200 million seven-year deal. That transaction priced...

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