Greenko to raise $1 billion through dollar bonds route

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Hyderabad | Published: July 11, 2017 6:37:50 PM

Renewable energy company Greenko Group is planning to raise about USD one billion via US dollar senior guaranteed notes and the bonds are being launched today across the globe.

Renewable energy company, renewable energy india, renewable Greenko Group, greenko bonds, power producing companiesRenewable energy company Greenko Group is planning to raise about USD one billion via US dollar senior guaranteed notes and the bonds are being launched today across the globe. (Reuters)

Renewable energy company Greenko Group is planning to raise about USD one billion via US dollar senior guaranteed notes and the bonds are being launched today across the globe, a senior official of the city-based power producer said today. “The amount would be about USD one billion and partly used to fund new projects,” the official told PTI. Rating agency Fitch Ratings has assigned Greenko’s proposed US dollar senior guaranteed notes an expected rating of ‘BB-(EXP)’. “GBV, a subsidiary of Greenko, will use the proceeds of the proposed US dollar notes to refinance its existing USD 550 million notes. “Greenko plans to inject new operating solar and wind assets into the restricted group, taking its total capacity to 1 GW from 623 MW. The balance of the proceeds will be used mainly to refinance existing debt at these new operating entities,” Fitch said. Greenko currently has over 2.5 GW of operating capacity and plans to achieve 3.0 GW capacity by year end of 2017, Greenko website said.

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