NTPC, the country's largest power producer, announced that the company had signed a syndicated term loan facility of USD 250 million arranged by Mizuho Bank, Singapore Branch. The loan carries a floating rate of interest linked to LIBOR and has a door to door maturity of 7 years.

The proceeds of the facility will be utilized to finance capital expenditure on the company's ongoing and new projects and renovation and modernization of stations.

Earlier, NTPC witnessed a rise in share prices on Wednesday after it signed a Memorandum of Understanding (MoU) with Government of Andhra Pradesh (GoAP) in Hyderabad. The MoU was signed for developing 1000 MW solar power project(s) in Andhra Pradesh.

Shares of the company gained Rs 0.45, or 0.32%, to trade at Rs 139. The total volume of shares traded was 101,383 at the BSE (1.42 p.m., Tuesday).