ReNew Becomes First Indian Renewable Energy Company To Refinance Dollar-Denominated Bonds
- Refinancing slashes interest cost by 200 basis points
- Redeems
US$ 525 million of outstanding bonds through longer-term financing
GURUGRAM,
ReNew issued bonds ('RPVIN 6.67% 24s' or 'Bonds') worth
This refinancing has cut the bonds' INR interest cost by 200 basis points, with the interest rate fixed for three years while pushing out the maturity to the end of fiscal year 2027. The rate reduction, rate fixing, and tenor extension have taken place against the backdrop of a rising interest rate environment in the broader markets. This pre-emptive refinancing mitigates near-term refinancing risk for bonds and provides liquidity to bond investors.
Speaking on the refinancing of debt, ReNew CFO
As we help spearhead
ReNew continues to rapidly expand its capacity, with its gross total portfolio recently surging over 25 % to ~12.8 GW from 10.2 GW at the beginning of 2022.
About ReNew
ReNew is one of the largest renewable energy Independent Power Producers in
Press Enquiries
kamil.zaheer@renewpower.in
+919811538880
Investor Enquiries
Anunay Shahi
ir@renewpower.in
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