This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Indian clean energy producer Greenko Energy is said to be planning an offshore bond issuance of as much as $1bn, ET reports. The Hyderabad-based company plans to use proceeds from the new bond to retire a high cost bank loan, expand capacity and/or other business purposes as per sources familiar with the matter. The bond is likely to have a tenor of 5Y or 7Y with a size of $500mn to $1bn. Greenko, which is backed by Singapore’s sovereign wealth fund GIC, has a high yield rating of B+/BB/Ba1. Barclays, DBS Bank, Deutsche, JP Morgan and HSBC are some of the foreign banks that are helping Greenko with the proposed issuance. Greenko has an operational portfolio of 7.5 GW and a pipeline of 15 GW of wind, solar, hydro, and energy storage assets spread across 15 states in India, as per ET.
Greenko’s 3.85% 2026s are currently trading at 101.03 yielding 3.59%.
For the full story, click here