New Delhi: Greenko Energy Holdings has raised $940 million for refinancing through its latest bond issue that closed on Monday, with the demand for Moody’s Investors Service’ Ba1 rated bond being over $2.5 billion.
“At 3.85%, this is the lowest priced and largest bond in non-investment grade by any corporate from India,” said a person aware of the development requesting anonymity.
While GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority (ADIA) currently hold 56% and 14%, respectively, in Greenko, Japan’s financial services firm ORIX Corp. has a 17.5% stake. Greenko founders and president and joint managing director Mahesh Kolli and chief executive and managing director Anil Kumar Chalamalasetty own the remaining stake.
