Avaada Energy to issue green bonds for Rs 14.40 billion

Avaada Energy is raising green bonds for Rs 14.40 billion in the Indian capital market at 6.75 per cent.

The bonds are certified by the Climate Bonds Standard Board of the Climate Bonds Initiatives.The bonds will be listed on the Bombay Stock Exchange, having a tenure of three years. The issuance earned the highest rating by CRISIL ratings. Axis Bank and ICICI Bank are the arranges of the issue. The bonds will help developers to raise capital domestically and avoid exposure of foreign exchange currency risk and achieve a reduction in fundraising costs.