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Renewable energy company Greenko Group plc has raised $550 million by sale of bonds overseas.
The bond offer of five-year tenure, carrying 8 per cent interest, was made by the company subsidiary Greenko Dutch BV, with the parent as the guarantor.
The company, which is listed in the AIM of the London Stock Exchange and operates with its headquarters in Hyderabad, will list them on the Singapore Stock Exchange.
Reacting to the successful offer of bonds, Anil Chalmalasetty, Chief Executive Officer of Greenko Group, told Business Line , “The company plans to ease up some of the debt burden of completed projects and deploy funds in ongoing projects through the funds raised from the bond offer. We are pleased with the development.”
About 620 MW of completed projects are part of the transaction.
The proceeds of the bond offer will be used primarily towards repaying the group’s existing debt, according to a statement made with the regulators.
“We now have an installed capacity of over 700 MW of wind and hydel power generation assets now under operation and expect to cross one gigawatt (1000 MW) of capacity within the next few months. Several wind energy assets are at various stages of commissioning in India,” he said.
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