JSW Hydro Energy’s debut green bond issue was subscribed 4x and closed at a much lower rate than initially guided, on Monday.
Its $707-million 10-year green bond saw a fair amount of investor interest, even as foreign investors cut down their overall positions on Indian debt.
The initial price guidance was at 4.5 per cent but finally closed at 4.125 per cent, said market sources. Majority of subscribers are high-quality long-only investors, according to them.
Deutsche Bank was the lead banker on the issue. Other banks included Standard Chartered, JP Morgan and Barclays.
“The extremely strong response to the issue, especially in the current environment, is testament to the quality
