JSW Hydro Energy successfully raised USD 707 million in a green bond sale to international investors, as per merchant bankers
New Delhi: JSW Hydro Energy, an arm of JSW Energy, has raised USD 707 million (about Rs 5,200 crore) from an international green bond issue that was oversubscribed by over four times, merchant bankers said on Monday.
JSW Hydro Energy successfully raised USD 707 million in a green bond sale to international investors, as per merchant bankers.
The Regulation-S bonds (dollar bonds sold to non-resident American investors) was oversubscribed over four times, helping the issuer tighten the coupon rate from an initial guidance of 4.5 per cent over the US treasury to 4.125 per cent on closing, Deutsche Bank India, which was the lead book runner to the issue, told .
This 10-year dollar bond sale is the first green bond issuance from the country this fiscal, the merchant banker added.
Other merchant bankers to the issue are Standard Chartered Bank, JP Morgan and Barclays India.
JSW Hydro Energy has an installed generation capacity of 1,391 MW. The group as a whole has 4,559 MW capacity, of which 3,158 MW are thermal power and 10 MW are solar power.
The Sajjan Jindal-led company’s biggest hydel asset is Himachal Baspa Power Company, which it had acquired for Rs 9,275 crore from Jaiprakash Power Ventures in 2015.
The acquisition has given JSW Energy complete control over the 300 MW Baspa II and 1,091 MW Karcham Wangtoo hydro electricity projects.