January 22 (Renewables Now) - Indian renewable power producer ReNew Power Ltd has secured some USD 450 million (EUR 406m) by issuing dollar bonds, the company’s finance head D Muthukumaran told Mint.
The newspaper was also informed by a person directly aware of the matter that the bonds have a coupon rate of 5.875% and will be issued in two tranches, with an average maturity of 5.5 years.
The knowledgeable source also unveiled that most of the proceeds will go towards refinancing existing borrowings maturing in the coming year. In addition, almost USD 65 million will be used to cover future capital expenditure requirements.
(USD 1.0 = EUR 0.902)