Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
BUSINESS

Continuum Green Energy Raises $350 Million Via Bonds

Picture Source: Internet

Renewable Energy Platform Continuum Green Energy Said on Wednesday that It had raised $350 Million (around Rs 2,786 Crore) in debt through a bond issue to expand its Solar-Hybrid and Wind-Energy Projects.


According to the Official Statement, the Company has a portfolio of 1.3 GW, both operational and imminent, and has issued senior secured floating rate notes to two large international institutional investors.


Founder And CEO Arvind Bansal Said: “Through these funds, the company aims to expand its portfolio to 2.5 GW of Primarily Hybrid Wind and Solar Projects, serving Commercial and Industrial (C&I) Consumers, enabling them to meet their SDGs availability economically”.


The statement said that continuum is majority-owned by a global infrastructure fund managed by Morgan Stanley Infrastructure Partners and has 1.2 GW of recent construction projects.


The Company said it could raise an additional $50 million if certain conditions were met. Deutsche Bank is Continuum’s sole placement agent in the transaction.


Sameer Gupta, Head of DCM (Debt Capital Markets) at Deutsche Bank of India, said: “International Debt Capital Markets continue to be volatile due to rising interest rates and geopolitical tensions. Despite adverse market conditions, capital remains available for strong credit and the right structure”.

Get Daily Prediction & Stocks Tips On Your Mobile