Sindicatum Renewable Energy raises Rs 2.5 billion in green bonds

Singapore-based Sindicatum Renewable Energy has raised about Rs 2.5 billion through the sale of rupee-denominated international green bonds that were issued in two tranches. The green bonds 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. This is the first international green bond that has been issued in accordance with both the International Capital Market Association Green Bond Principles, 2017, and the ASEAN Green Bond Standards. In addition, Sindicatum Renewables has become the first Singaporean company to issue international green bonds in Indian rupees. Besides refinancing its existing debts, the company intends to use these funds to finance renewable energy projects in India.