ReNew Power on Monday priced its green bonds at the lowest rate for a high yield bond ever from India at 4 per cent, according to sources.
The company raised the bonds through an orphan special purpose vehicle route, in which a foreign portfolio investor raised the bonds to invest in rupee equivalent bonds by ReNew Power.
Sources say the initial guidance was of 6 per cent, but the issue ended up getting priced at 4 per cent.
Bids worth $1.6 billion was received for the 5 year tenured bonds, sources said.
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