Goldman-backed ReNew Power debuts dollar bond

The proceeds will be used to buy the Indian clean energy company's proposed masala bonds.

Goldman-backed ReNew Power debuts dollar bond

ReNew Power, an Indian clean energy company majority owned by Goldman Sachs, raised $475 million from its maiden US dollar-denominated bond on Tuesday in a complex deal designed to circumvent central bank restrictions on speculative-grade offshore issuance.

Using special purpose vehicle Neerg Energy, which will invest the funds in ReNew Power's upcoming offshore rupee -- or masala -- debt issue, the green dollar bond was structured to meet Reserve Bank of India...

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