ReNew Energy Global refinances its dollar-denominated bonds

ReNew Energy Global has effectively refinanced its dollar-denominated bonds maturing in 2024 while amortising project loan from an Indian non-bank banking institution. The company issued bonds worth $525 million in 2019 having a maturity date in 2024. The bond’s INR interest cost has been reduced by 200 basis points, with the interest rate set for three years and the maturity date pushed out to the end of fiscal year 2027.