Continuum’s $560 mn bond sale sees over $3 bn demand
Morgan Stanley-backed Indian green energy producer Continuum Green Energy Ltd’s debut dollar bond issuance of $560 million on Tuesday witnessed strong demand, resulting in an order book of over $3 billion.
The successful fundraise of comes a day after finance minister Nirmala Sitharaman announced a major boost in infra spending in the Union budget. The central government capex is projected to touch ₹5.54 trillion next fiscal, while FY21 will close at ₹4.4 trillion.
The demand for the Continuum bond sale from foreign investors could indicate a growing appetite for Indian infrastructure because of the government’s intent to spend more on the sector.
