Image Source: Manufacturing Today India
ReNew Energy Global Plc has successfully raised $600 million through dollar-denominated bonds at a 6.5% coupon rate for five years. The issue, conducted via GIFT City IFSC, marks a significant reduction from its previous 2023 bond rate and attracted strong global investor interest despite recent corporate challenges.
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ReNew Energy Global Plc, India’s leading renewable energy company listed on Nasdaq, has announced the successful issuance of $600 million in bonds at a coupon rate of 6.5% for a five-year tenure. This marks a notable improvement compared to its earlier $525 million bond raised in 2023 at a higher 7.9% rate. The fundraising comes at a critical juncture, following the withdrawal of Masdar’s $1 billion delisting offer in December, which had cast uncertainty over ReNew’s strategic direction.
Key Highlights
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The bond was issued through the International Financial Services Centre (IFSC) at GIFT City, Gujarat
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The coupon rate is 1.4% lower than ReNew’s previous issuance, signaling improved investor confidence
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The issue was oversubscribed, reflecting strong demand from global investors
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The fundraising strengthens ReNew’s liquidity position amid ongoing challenges in India’s renewable energy sector
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The move underscores ReNew’s ability to tap international capital markets despite recent corporate setbacks
Sources: Mint, ScanX News
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