Sindicatum Renewable Energy raises Rs 2.5 billion funds

The Sindicatum Renewable Energy Company, a Singapore-based renewable energy company, has raised Rs 2.5 billion through the sale of rupee-denominated international green bonds. With this, Sindicatum has become the first Singapore-based company to issue international green bonds in Indian rupees. In addition, this is the first international green bond issued in accordance with both the International Capital Market Association’s Green Bond Principles 2017 and the ASEAN Green Bond Standards. The bonds were issued in two tranches and have a maturity period of five and seven years respectively. The guarantor of the issuance is GuarantCo, an international development finance institution headquartered in London. The company intends to use these funds to finance renewable energy projects in India and refinance its existing debts.