Global law firm Ashurst has advised Barclays Bank PLC, DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc and Merrill Lynch (Singapore) Pte. Ltd. as initial purchasers with respect to the high yield green bond issuance by Greenko Power II Limited of US$1 billion 4.3% senior notes due 2028.
Greenko Power II Limited is a wholly-owned subsidiary of Greenko Energy Holdings, one of the leading independent owners and operators of clean energy projects in India. The net proceeds from the offering were used to subscribe for rupee-denominated debt issued by onshore Indian subsidiaries of Greenko Energy Holdings, which own 24 operational wind energy projects and 13 operational solar energy projects in India.
This transaction represented the largest green bond yet issued by Greenko, which is one of the leading independent owners and operators of clean energy projects in India, and is the fifth Greenko offering since 2016 on which the Ashurst high yield team has advised the initial purchasers.
The team was led by global head of high yield Anna-Marie Slot, with support from senior associate Eileen Kelly in London and counsel Ethan Perry in Singapore.
“As one of India’s longest-standing green bond issuers, Greenko is at the forefront of sustainable finance in India, and we proud to have supported the underwriters in Greenko’s green bond issuances since 2014,” said Anna-Marie Slot.
