By William Gullotti
Buffalo, N.Y., April 6 – Greenko Wind Projects (Mauritius) Ltd. priced a $750 million offering of 5½% senior notes due 2025 (Ba1//BBB), according to a listing notice on Wednesday.
Parent Greenko Energy Holdings will guarantee the notes.
According to Moody’s Investors Service, proceeds from the offering will be used primarily to repay debt and/or fund capital expenditures at the asset level of Greenko AP01 IREP Private Ltd. The notes will be used to subscribe to senior secured Indian rupee-denominated debt issued by Greenko AP01.
Listing for the Regulation S and Rule 144A notes is expected on the Singapore Exchange effective April 7.
The issuer is a financing vehicle for Greenko Energy Holdings’ first integrated renewable energy storage project, which is being implemented by sister subsidiary, Greenko AP01.
| Issuer: | Greenko Wind Projects (Mauritius) Ltd.
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| Guarantor: | Greenko Energy Holdings
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| Securities: | Fixed-rate senior notes
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| Amount: | $750 million
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| Maturity: | April 6, 2025
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| Coupon: | 5½%
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| Settlement date: | April 6
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| Listing date: | April 7
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| Ratings: | Moody’s: Ba1
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| Fitch: BB
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| Distribution: | Regulation S and Rule 144A
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| ISINs: | USV3856JAA17, US39531JAA25
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