ReNew Energy Global Plc announced that its wholly-owned subsidiary, Diamond II Limited, obtained $400 million by issuing senior secured green bonds.
The green bonds received great demand from investors in the United States, Europe, and Asia as the company resumed high-yield issuance from India after a more than a year hiatus, according to a statement.
“The order book was oversubscribed about 4 times with a total investor demand aggregating in excess of $1.5 billion, resulting in 35 bps tightening of pricing,” it added.
The Corporate Style Notes have a coupon rate of 7.95 percent in US dollars and are rated Ba3 by Moody’s and BB- by Fitch. The proceeds of the offering will be utilized to refinance current dollar debt as well as fund various expansion projects. Advt The Climate Bond Initiative certified the notes, which are in accordance with the ICMA Green Bond Principles.
A development effect evaluation is also included in the Notes. ReNew repaid more than $1 billion to its offshore bondholders in 2022-23. During the previous fiscal year, the company refinanced $525 million in domestic markets, in addition to repaying $480 million in debt through internal cash flow.
The Climate Bond Initiative certified the notes, which are in accordance with the ICMA Green Bond Principles. A development effect evaluation is also included in the Notes.
ReNew repaid more than $1 billion to its offshore bondholders in 2022-23. During the previous fiscal year, the company refinanced $525 million in domestic markets, in addition to repaying $480 million in debt through internal cash flow.
The Climate Bond Initiative certified the notes, which are in accordance with the ICMA Green Bond Principles. A development effect evaluation is also included in the Notes.
ReNew repaid more than $1 billion to its offshore bondholders in 2022-23. During the previous fiscal year, the company refinanced $525 million in domestic markets, in addition to repaying $480 million in debt through internal cash flow.