Reportedly, ReNew Energy Global has planned to raise around USD 500 million through a dollar-denominated bond issuance routed via the International Financial Services Centre at GIFT City.
The proceeds from the offshore bond issue will be utilised for on-lending to entities within the ReNew Group repayment of existing debt including about USD 525 million due in July 2026 on-lending to certain restricted group entities and other permitted corporate purposes. The proposed transaction is expected to be among the larger offshore fundraisings undertaken through GIFT City. Several international banks are acting as joint global coordinators and joint bookrunners for the issuance, including Barclays, BNP Paribas, Deutsche Bank, HSBC, JPMorgan, MUFG and Standard Chartered Bank.