Indian independent power producer Azure Power will issue green bonds worth $350m to facilitate refinancing of existing debt. Announced through its subsidiary Azure Power Solar Energy Private, the Climate Bonds Initiative-certified issuance will be offered to eligible yield investors with a green bond portfolio. The programme is the second set of solar green bonds put up by the company and will mature in 2024 with a predicted US dollar coupon of 5.65%. The bonds will be distributed largely to Asian investors, who will receive 21%, while a third will go to those in the US and 47% to Europe, the Middle East and Africa.
Indian independent power producer Azure Power will issue green bonds worth $350m to facilitate refinancing of existing debt. Announced through its subsidiary Azure Power Solar Energy Private, the Climate Bonds Initiative-certified issuance will be offered to eligible yield investors with a green bond portfolio. The programme is the second set of solar green bonds put up by the company and will mature in 2024 with a predicted US dollar coupon of 5.65%. The bonds will be distributed largely to Asian investors, who will receive 47%, while a third will go to those in the US and 21% to Europe, the Middle East and Africa.