ReNew raises $400 million through green bonds

ReNew Energy Global Plc announced that its wholly owned subsidiary, Diamond II Limited, has raised $400 million through the issue of senior secured green bonds. The green bonds received strong demand from investors in US, Europe and Asia as it opened the high-yield issuance out of India after a broad market hiatus of more than a year. The order book was oversubscribed about 4 times with a total investor demand aggregating more than $1.5 billion, resulting in 35 bps tightening of pricing.