Debt

Debt financing

Renewable energy firm Greenko raises $750-M

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Hyderabad-based renewable energy firm Greenko has raised USD 750 million through an offshore bond offering. The three-year US dollar-denominated bonds were priced at 5.50%. Deutsche Bank advised the company. Greenko Wind Projects (Mauritius) Ltd (GWPML), an indirect subsidiary of Greenko Energy Holdings, will lend the proceeds of the bonds to an Andhra Pradesh (AP) pumped-storage project SPV - Pinnapuram SPSP Company - by investing in the SPV's rupee-denominated debt. Pinnapuram SPSP Company will use the proceeds to refinance its borrowings, create an interest service reserve account and fund the remaining capex for the project.