ReNew Power raises $475 million at cheaper cost

ReNew Power Ventures Private Limited has raised $475 million by selling green bonds to overseas investors as the solar and wind energy producer plans to refinance debt. The bonds yielded 6 per cent, about 38 basis points tighter than the initial guidance. Bank of America Merrill Lynch, JP Morgan and HSBC were some of the bankers that arranged the deal. The securities will be listed on the Singapore Stock Exchange.