ReNew Power’s subsidiaries list $585 million FCBs on India INX

Ten subsidiaries of ReNew Power Private Limited have listed $585 million worth foreign currency bonds (FCB) exclusively on Global Securities Market (GSM) of the India International Exchange at GIFT International Financial Services Centre (IFSC). ..

The FCBs will have a tenor of 7.25 years and are priced competitively at 4.50 per cent on sale. The entities listing their bonds on the exchange enjoy the benefit of lower withholding tax.