ReNew Energy Global plc has announced the successful issuance of USD 600 million in 6.5% senior secured green bonds due 2031. The offering, conducted through its GIFT City subsidiary, ReNew Treasury IFSC Private Limited, marks the first-ever international bond issuance from a GIFT City issuer. The green bonds, guaranteed by ReNew and ReNew Private Limited, will primarily be used to redeem $525 million of existing Diamond II Bonds, resulting in a lower interest rate and extended maturity. The transaction was oversubscribed, attracting over USD 2 billion in investor demand and leading to a 37.5 basis point tightening from initial price guidance. The bonds are expected to be rated Ba3 by Moody's and BB- by Fitch.
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