SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2022
Commission File Number: 001-40752
RENEW ENERGY GLOBAL PLC
(Translation of registrants name into English)
C/O Vistra (UK) Ltd 3rd Floor
11-12 St Jamess Square London SW1Y 4LB
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
On January 7, 2022, ReNew Energy Global Plc (ReNew) announced that India Clean Energy Holdings, a Mauritian entity and a wholly owned subsidiary of ReNew, raised US$400 million at 4.5% by issuing senior secured dollar notes. The notes are certified green bonds by Climate Bond Initiative and will be listed on the Singapore Exchange. These Green Bonds have a tenor of 5.25 years. The press release is attached as exhibit 99.1 hereto.
Description of Exhibit
|99.1||ReNew raises $400 million by issuing Green Bonds|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Dated: January 11, 2022||RENEW ENERGY GLOBAL PLC|
|Name: D. Muthukumaran|
|Title: Chief Financial Officer|
ReNew raises $400 million by issuing Green Bonds
India Clean Energy Holdings, a Mauritian entity, and a wholly owned subsidiary of ReNew Energy Global Plc, has raised US$ 400 million at 4.5% by issuing senior secured dollar notes
Amount raised to refinance existing debt and fund capital expenditure, among other uses
Gurugram, India, January 07, 2022: ReNew Energy Global Plc (ReNew or the Company) (NASDAQ: RNW, RNWWW), Indias leading renewable energy company, today announced that India Clean Energy Holdings, a Mauritian entity, and a wholly owned subsidiary of ReNew Energy Global Plc (the parent company of ReNew Power Private Limited), has raised US$400 million at 4.5% by issuing senior secured dollar notes.
The dollar notes are certified green bonds by Climate Bond Initiative and will be listed on the Singapore Exchange (SGX). These Green Bonds have a tenor of 5.25 years. This is the first High Yield issuance out of the ASEAN and South Asian regions in 2022.
These notes were subscribed to by investors from the US and Asia at about 40% each and the balance by EMEA-based investors. The bulk of notes were subscribed to by long-only fund managers and pension funds. So far the Company, through its subsidiaries, has raised in excess of US$ 3.5 billion across eight such issuances, of which seven are outstanding.
The amount raised would be used by ReNews subsidiaries to refinance existing high-cost debt and fund capital expenditure in renewable energy assets or for other purposes as permitted by law
Speaking about the amount raised, President Corporate Finance, Mr. Kailash Vaswani, said: In line with our rapid expansion plans to accelerate Indias energy transition, this issuance goes a long way in helping us meet our robust growth objectives and reduce our cost of capital. We will continue to seek fundraising opportunities to refinance our existing debt with lower-cost fixed rate green bonds.
About ReNew: ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in India and globally. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects and distributed solar energy projects. As of November 30, 2021, ReNew had a total capacity of approximately 10.3 GW of renewable energy projects across India including commissioned and committed projects. For more information, please visit: www.renewpower.in; Follow ReNew Power on Twitter @ReNew_Power
Nathan Judge, CFA