to-the-point: Azure Power kicks off USD-350m green bond sale

Azure Power Solar Power Plant (Photo: Business Wire)

September 25 (Renewables Now) - Azure Power Solar Energy Pvt Ltd, a unit of Indian solar power producer Azure Power Global Ltd (NYSE:AZRE) today announced it has launched a placing of USD 350.1 million of green bonds.

Funds from the transaction will be mainly used to refinance existing debt of the company.

The US dollar-denominated bonds, certified by the Climate Bonds Initiative, bear a coupon of 5.65% and will mature in 2024. They are being offered to eligible yield investors with a specific mandate or portfolio for buying green bonds and will not be registered under the Securities Act.

The latest offering represents the company’s second placing of such financial instruments.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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