Atria Power to raise up to $500 million via dollar bonds

Atria Power Corporation Limited, a Bengaluru-based renewable power producer, is planning to sell dollar bonds worth $500 million. The company has hired investment banks, including Barclays Plc, JPMorgan Chase and Company, and Swiss investment bank UBS AG, for the sale. Atria is planning to float dollar bonds to raise $300 million-$500 million with a five-year tenor. It plans to develop 1,000 MW of power projects over the next five years, entailing an investment of Rs 30 billion. The company has a portfolio of wind, hydro and solar power projects across the country.