Indian power companies issued about US$22bn of offshore bonds last year and there are no signs of this slowing down this year.
Indian renewable energy producer ReNew Power will issue another US dollar 144A/Reg S green bond offering and it has mandated Barclays, HSBC and JP Morgan as joint lead managers and bookrunners to set up meetings in Hong Kong, Singapore, London, New York, Boston and Los Angeles starting this week.
State Bank of India, IDBI Bank, Bank of India, Canara Bank, Bank of Baroda and others are in line for US$7.6bn windfall as a result of progress in bankruptcy proceedings against Essar Steel India, Prayagraj Power Generation, Ruchi Soya Industries and RattanIndia Power.
Adani Ports & Special Economic Zone Ltd has paid US$1.8bn to acquire a 75% stake in Krishnapatnam Port (KPCL) in Andhra Pradesh from the CVR Group.
Renewable energy firm Adani Green’s US$362.5m green bond issue attracted interest worldwide, with US accounts picking up 24%, Asia taking 60% and 16% going to EMEA.