India's Greenko to issue USD 1bn in green bonds - report
Dollars in green. Author: 401(K) 2012.
India-focused renewables company Greenko Energy Holdings will be issuing a roughly USD-1-billion (EUR 877m) green bond on Tuesday, according to local media reports.
Both Mint and The Economic Times (ET) reported that Greenko plans to issue a seven-year bond and has hired Barclays, JP Morgan, Morgan Stanley, Deutsche Bank and Investec to manage the process.
ET cited officials in the know as saying that the issuance will raise at least USD 950 million to a little over USD 1 billion, with the funds being directed in part towards refinancing the assumed debt from a 2016 transaction with bankrupt US developer SunEdison (OTCMKTS:SUNEQ).
Specifically, last year Greenko bought SunEdison’s portfolio of solar and wind projects in India for an enterprise value of USD 392 million, including USD 350 million of assumed project-level debt.