ReNew eyes dollar bond issuance of $600 mn
ReNew Power, India’s leading renewable energy producer, plans to launch a fresh bond issue of up to $600 million to refinance debt raised to build around 803MW of operating wind and solar assets, said a person aware of the plans.
ReNew last raised $460 million through a bond offering in February. This followed the Goldman Sachs-backed company raising $325 million last October by selling bonds to foreign investors. ReNew is one of the most active dollar bond issuers from India.
“While the company has the approval to raise up to $620 million, the proposed bond issuance will be in the range of $575-600 million,” the person cited above said, requesting anonymity.
