Greenko Energy will prepay its $500mn 4.875% dollar bonds due August 2023 by using its near-term cashflows, as per ET sources. Greenko reported operating profits of $625mn in 2022 and expects it to rise to $650mn in 2023. The bonds are linked to a “restricted group” of 500MW of renewable assets and were issued in 2015. As per ET, this was among the first offshore high-yield bond instruments from India. Only last week, Greenko Energy had redeemed its $435mn 6.25% bond due 21 February 2023 after securing a bridge loan from several banks
Greenko’s 4.875% 2023s were trading stable at 98.5, yielding 8.25%.
For the full story, click here
