EESL issues domestic bonds worth Rs 5 billion

Energy Efficiency Services Limited (EESL) has issued bonds worth Rs 5 billion in the domestic market on a private placement basis with the issue being fully subscribed. The bonds, carrying a coupon rate of 8.07 per cent per annum, with a maturity ranging from 3.5 to 7 years on a separately transferable, redeemable principal parts basis, will help EESL fund its energy efficiency projects. The bonds are proposed to be listed on the wholesale debt market segment of the Bombay Stock Exchange. Further, the company also plans to introduce green masala bonds worth $100 million (around Rs 7 billion) in November 2016, in order to raise capital for its projects and has also tied up funding from multilateral agencies such as German development bank KfW, French development agency AFD, and ADB.