Shardul Amarchand Mangaldas & Co advises India Cleantech Energy
The deal worth $334 million will be used to issue non-convertible debentures and repay existing debt
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Shardul Amarchand Mangaldas & Co advises India Cleantech Energy The deal worth $334 million will be used to issue non-convertible debentures and repay existing debt Shardul Amarchand Mangaldas & Co has advised India Cleantech Energy in a deal worth $334 million. India Cleantech Energy is to issue green bonds bearing a coupon rate of 4.7 per cent due in 2026 ("Notes"),...
Shardul Amarchand Mangaldas & Co advises India Cleantech Energy
The deal worth $334 million will be used to issue non-convertible debentures and repay existing debt
Shardul Amarchand Mangaldas & Co has advised India Cleantech Energy in a deal worth $334 million.
India Cleantech Energy is to issue green bonds bearing a coupon rate of 4.7 per cent due in 2026 ("Notes"), which will be listed on the Singapore Exchange Securities Trading Limited.
Proceeds from the offering will be used by India Cleantech Energy to subscribe to rupee-denominated non-convertible debentures to be issued by 12 special purpose vehicles in India. The company will use the proceeds primarily to repay their existing debt.
Shardul Amarchand Mangaldas & Co's transaction team was led by Partners Prashant Gupta, Shubhangi Garg and Prateek Jauhari; Principal Associate Anjali Verghese; Senior Associate Abhijeet Saxena and Associates Shobhit Shukla and Shweta Singh.
Linklaters Singapore Pte Ltd advised ACME Solar Holdings Private Limited on US federal securities law and New York laws aspects. Ashurst LLP and Talwar Thakore & Associates advised Deutsche Bank AG, Singapore Branch, Barclays Bank PLC and J.P. Morgan Securities plc. on U.S. federal securities laws and New York laws aspects and Indian law aspects respectively.
The deal was closed on 10 August 2021.