Reliance Power and its subsidiary have inked a pact with Varde Partners for availing debt of up to Rs 1,200 crore.
In a regulatory filing, Reliance Power said the company and its subsidiary have entered into a indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of up to Rs 1,200 crore (USD 150 million) “for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by Reliance Power.”
Varde Partners is a leading global alternative investment firm specializing in credit and credit-related assets.
The drawdown of the debt will be subject to finalization and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules/ laws/ regulations, the filing added.
