Greenko raises Rs 30 billion funds from rupee-denominated bond sale

Greenko has raised Rs 30 billion through the sale of onshore rupee-denominated bonds set to mature in 2027. The bonds have a 10-year tenor and a coupon rate of 8.75 per cent. Moreover, the bonds have a call option after five years and the interest payment will be calculated semi-annually. The sale was made through Greenko’s special purpose vehicles (SPVs) operating solar projects in India. The 10 SPVs will develop and operate a 500 MW solar power project at the Kurnool Solar Park in Andhra Pradesh. JP Morgan Chase has arranged the offering for Greenko’s SPVs.

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