Renew Clean Energy to conditionally redeem 6.67% notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., June 6 – Renew Clean Energy Private Ltd. issued a conditional notice of redemption for its $525 million outstanding 6.67% senior secured notes (ISINs: US75973NAA28, USY7275HAA69) due 2024, according to a company press release.

The notes will be redeemed in full at 103.335 on June 30 plus accrued interest and additional amounts, if any.

A portion of the redemption, 3.335%, will be paid either by the co- issuers, ReNew Energy Global plc and/or any affiliates outside India.

The redemption is conditional upon the co- issuers arranging sufficient funding for the redemption and related fees.

The notes were co- issued and guaranteed by Kanak Renewables Ltd., Rajat Renewables Ltd., ReNew Clean Energy Private Ltd., ReNew Saur Urja Private Ltd., ReNew Solar Energy (Telangana) Private Ltd., ReNew Wind Energy (Budh 3) Private Ltd., ReNew Wind Energy (Devgarh) Private Ltd. and ReNew Wind Energy (Rajasthan 3) Private Ltd.

ReNew Power Ltd. is the parent guarantor.

Citicorp International Ltd. is the trustee.

Citibank, NA London Branch is the paying agent.

Renew Clean Energy is a utility based in Delhi, India.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.