ReNew Energy is out there to boost $460 million via inexperienced bonds in rupee equal to finance its home debt, in accordance with a number of sources conversant in the matter. The bond issuance will occur via an orphan particular function car (SPV) — a construction the place a international portfolio investor (FPI) will elevate $460 million in greenback debt from international buyers.
ReNew Energy will challenge rupee bonds to this FPI for the complete quantity. In such an orphan SPV construction, the FPI doesn’t have any relationship with the corporate issuing the rupee bond. The FPI — on this …
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First Revealed: Solar, January 31 2021. 19:44 IST