ReNew Power prices its green bonds at 4 per cent, say sources
The company raised the bonds through an orphan special purpose vehicle route, in which a foreign portfolio investor raised the bonds to invest in rupee equivalent bonds by ReNew Power
Topics
ReNew Power | Green bonds
Anup Roy |
Last Updated at February 8, 2021 22:56 IST
ReNew Power on Monday priced its green bonds at the lowest rate for a high yield bond ever from India at 4 per cent, according to sources.
The company raised the bonds through an orphan special purpose vehicle route, in which a foreign portfolio investor raised the bonds to invest in rupee equivalent bonds by ReNew Power.
Sources say the initial guidance was of 6 per cent, but the issue ended up getting priced at 4 per cent.
Bids worth $1.6 billion was received for the 5 year tenured bonds, sources said.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Mon, February 08 2021. 22:49 IST
