Renew Power looks to raise funds via dollar bonds

ReNew Power, one of India’s largest renewable energy producers, is gearing up to raise offshore debt by issuing dollar bonds as it looks to refinance domestic debt of certain operating assets, according to two people aware of the development.

“ReNew is in talks to appoint a banker syndicate to manage the bond offering. The size of the bond sale is yet to be decided,” said one of the persons aware of the talks, requesting anonymity.

ReNew could look at raising around $500 million and the proposed bond offering could be launched as early as this month or latest by September, said the second person mentioned above, also requesting anonymity.