{"id":14071,"date":"2022-01-07T20:13:48","date_gmt":"2022-01-07T14:43:48","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-renew-power-fundraising\/"},"modified":"2022-01-08T11:59:45","modified_gmt":"2022-01-08T06:29:45","slug":"biz-renew-power-fundraising","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-renew-power-fundraising\/","title":{"rendered":"Renew Power raises USD 400 mn via dollar bonds"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-302764880\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Jan 7 (PTI) ReNew Power has raised USD 400 million from global debt investors, making it the second issue from the country after Reliance Industries&#8217; mop-up of USD 4 billion.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2775059245\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The renewable energy firm said the money was raised by the Mauritius-based Clean Energy Holdings, a wholly-owned subsidiary of Renew Energy Global Plc that is the parent of the operating firm ReNew Power.<\/p>\n<p> It offered a coupon of 4.5 per cent to the USD 400-million 5.25-year senior secured dollar notes.<\/p>\n<p> The money will be used to refinance existing high-cost debt and fund capital expenditure, among other uses, the Gurugram-headquartered and Nasdaq-listed company said.<\/p><div class=\"trade-content_5\" id=\"trade-2144411599\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The dollar notes are certified green bonds by the Climate Bond Initiative and will be listed on the Singapore Stock Exchange. These green bonds have a tenor of 5.25 years and are the first high-yield issuance out of the ASEAN and South Asian regions in the new year.<\/p>\n<p> The issue was subscribed 40 per cent each by American and Asian investors and the balance by EMEA (Europe, the Middle East and Africa)-based investors and most of the subscribers are long-only fund managers and pension funds.<\/p>\n<p> So far, ReNew Power has raised in excess of USD 3.5 billion from eight issuances, of which, seven are outstanding, it said.<\/p>\n<p> ReNew Power President (Corporate Finance) Kailash Vaswani said the money will be used to refinance existing high-cost debt and fund capital expenditure of its subsidiaries and for other corporate purposes.<\/p>\n<p> The company is among the largest independent renewable energy producers developing, building, owning and operating utility-scale wind and solar energy projects, hydro projects and distributed solar energy projects.<\/p>\n<p> As of November 2021, its total capacity stood at 10.3 gigawatts (GW) across, including commissioned and committed projects.<\/p><div class=\"trade-content-10\" id=\"trade-1754307591\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> On January 6, Reliance had raised USD 4 billion in foreign currency bonds issue, which is the largest from the country so far to retire existing debt.<\/p>\n<p> The issue was &#8220;nearly three times oversubscribed with a peak order book aggregating around USD 11.5 billion&#8221;, the oil-to-retail giant said.<\/p>\n<p> It added that this was the largest-ever foreign currency bond transaction from the country, eclipsing ONGC Videsh&#8217;s USD 2.2-billion US dollar bonds issue in 2014.<\/p>\n<p> Reliance has a cash balance of Rs 2.59 lakh crore and a gross debt of Rs 2.55 lakh crore as of September 2021. PTI BEN  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-2667059398\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Jan 7 (PTI) ReNew Power has raised USD 400 million from global debt investors, making it the second issue from the country after Reliance Industries&#8217; mop-up of USD 4 billion. The renewable energy firm said the money was raised by the Mauritius-based Clean Energy Holdings, a wholly-owned subsidiary of Renew Energy Global Plc that [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-14071","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Renew Power raises USD 400 mn via dollar bonds - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-renew-power-fundraising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renew Power raises USD 400 mn via dollar bonds\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Jan 7 (PTI) ReNew Power has raised USD 400 million from global debt investors, making it the second issue from the country after Reliance Industries&#8217; mop-up of USD 4 billion. 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