India: ReNew Power Raises $352m Debt Through NCDs To Prepay Loans


India: ReNew Power Raises $352m Debt Through NCDs To Prepay Loans

Leading Indian renewable energy firm ReNew Power Ventures Pvt. Ltd has raised Rs 2,235 crore ($352 million) through two non-convertible debt issues.

According to an official statement, the Gurgaon-based company plans to use the proceeds for the prepayment of existing term loans.

The issue had two parts with the first, a credit enhanced NCD worth Rs 760 crore and the second, a multi-issuer cross-collateralised rupee bond involving multiple power distribution companies valued at Rs 1,475 crore, it said. Read More…

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