to-the-point: India's IREDA to issue INR 6bn green bond soon

The Indian Renewable Energy Development Agency (IREDA) will close a green bond issuance of INR 6 billion (USD 90m/EUR 80m) on Thursday, Bloomberg said, citing an official.

Proceeds from the 10-year bond will be used for renewable energy projects. The coupon is expected to be of 7.3%, IREDA chairman KS Popli was quoted as saying.

The agency is planning two more issuances of INR 14 billion in total at end November and in December.

In May it was announced that (IREDA) will secure INR 20 billion in funds for solar power projects through the issue of tax-free bonds.

(INR 100 = USD 1.499/EUR 1.336)

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