India’s state-run National Thermal Power Corporation (NTPC) is among the first bonds to list on a new International Securities Market (ISM) on the London Stock Exchange (LSE). The NTPC Masala Bond is available for trading this week on ISM following the publication of its rulebook last week by Minister of state for power, coal and renewable energy Piyush Goyal.
“I am pleased that India’s NTPC is one of the first companies to list their recent Masala Bond on London Stock Exchange’s innovative new debt market. London has been a long-term partner for Indian firms looking to raise finance in the global capital markets and the development of an additional platform for the listing and trading of fixed income should be welcomed,” Goyal said. The ISM is an additional market for the issuance and trading of UK and international primary debt targeted at institutional and professional investors.