{"id":21642,"date":"2022-02-07T10:18:50","date_gmt":"2022-02-07T04:48:50","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-virescent-bonds\/"},"modified":"2022-02-07T10:18:50","modified_gmt":"2022-02-07T04:48:50","slug":"biz-virescent-bonds","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-virescent-bonds\/","title":{"rendered":"Virescent Renewable Energy Trust raises Rs 650 cr via bonds"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-30427758\"><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> New Delhi, Feb 7 (PTI) KKR-backed Virescent Renewable Energy Trust ((VRET) has raised Rs 650 crore through domestic bond issue.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3385353814\"><!-- 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> &#8220;Virescent Renewable Energy Trust (VRET) raised Rs 650 crore through a domestic bond issuance across 7.33-year (Rs 150 crore) and 10-year (Rs 500 crore) tranches,&#8221; a VRET statement said.<\/p>\n<p> According to the statement, this transaction marks the largest single series issuance of Rs 500 crore in 10-year tenor by a renewable energy company.<\/p>\n<p> This bond issuance establishes a new yield curve for VRET, while also achieving significant elongation of average tenor as compared to the earlier Rs 1,000 crore bond issuance of VRET in November 2021 (4.8 years to 9.4 years).<\/p><div class=\"trade-content_5\" id=\"trade-2793812024\"><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 average quarterly coupon of the bonds is 7.93 per cent, fully fixed for the entire tenor.<\/p>\n<p> VRET will primarily use the bond proceeds to fund its immediate acquisition related debt requirements as it scales up its portfolio from the existing 450MW (peak) of operational solar projects.<\/p>\n<p> The bonds are assigned the highest domestic rating of AAA (Stable) by CRISIL and India Ratings.<\/p>\n<p> Sanjay Grewal, CEO, Virescent Infrastructure said in the statement, &#8220;This bond issuance is a significant achievement in VRET&#8217;s journey, demonstrating our debt raising capabilities to achieve competitive pricing and longer maturity profiles.&#8221; \t Grewal mentioned that it is very encouraging to see specialised lenders and development finance institutions such as IIFCL and Aseem Infrastructure participate in the long-term debt markets as it will go a long way in creating much needed capital for infrastructure funding.<\/p>\n<p> Virescent Renewable Energy Trust is an infrastructure investment trust (InvIT).<\/p>\n<p> KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. PTI KKS  MKJ MKJ<\/p><div class=\"trade-content-10\" id=\"trade-1171563734\"><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<div class=\"trade-after-content\" id=\"trade-1894146876\"><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>New Delhi, Feb 7 (PTI) KKR-backed Virescent Renewable Energy Trust ((VRET) has raised Rs 650 crore through domestic bond issue. &#8220;Virescent Renewable Energy Trust (VRET) raised Rs 650 crore through a domestic bond issuance across 7.33-year (Rs 150 crore) and 10-year (Rs 500 crore) tranches,&#8221; a VRET statement said. According to the statement, this transaction [&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-21642","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>Virescent Renewable Energy Trust raises Rs 650 cr via 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-virescent-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Virescent Renewable Energy Trust raises Rs 650 cr via bonds\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 7 (PTI) KKR-backed Virescent Renewable Energy Trust ((VRET) has raised Rs 650 crore through domestic bond issue. &#8220;Virescent Renewable Energy Trust (VRET) raised Rs 650 crore through a domestic bond issuance across 7.33-year (Rs 150 crore) and 10-year (Rs 500 crore) tranches,&#8221; a VRET statement said. 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