Latham & Watkins, a global law firm, has represented the joint coordinators and bookrunners in the $500-million offer of 5.5 per cent green bonds due 2022 by Azure Power Energy Ltd, a wholly owned subsidiary of Azure Power Global Ltd.
The joint global coordinators for the offering were Barclays, HSBC and JP Morgan. They were also joint bookrunners with Credit Suisse, Deutsche Bank and Société Générale.
Certified by the Climate Bonds Initiative as green bonds, these are the first to be offered by an Indian company with only solar assets. Proceeds from the bonds will be used primarily to refinance the existing debt and for other general corporate expenses.
The Latham team was led by Singapore partner and India Practice Head Rajiv Gupta along with others.
Rajiv Gupta in a statement said: “Following our work with Azure on their US IPO in 2016, it has been a pleasure to work with them once more on this important offering.”
Azure Power is a leading solar power producer in India with a portfolio of over 1,000 MWs across 18 states. Latham & Watkins is a global law firm with more than 2,200 lawyers.