Clifford Chance

Clifford Chance advises on Greenko's US$1 billion high yield bond issuance

Global law firm Clifford Chance has advised a syndicate of global banks as underwriters in connection with the issuance of US$1 billion 7.25% bonds due 2028 by Greenko Wind Projects (Mauritius) Ltd, a subsidiary of Greenko Energy Holdings, one of India’s leading energy transition companies. The proceeds will primarily be used to refinance outstanding indebtedness used for the construction and development of the Pinnapuram pumped storage project in Andhra Pradesh, India.

Lead partner Alan Yeung who specialises in high yield and investment grade debt issuances said, "We are delighted to have supported Greenko's successful US$1 billion offering, which demonstrates continued strong investor interest in India's renewable energy sector and underscores the country's key role in the global energy transition.  The transaction adds to the recent US dollar high yield bond issuances out of India, as global investors continue to seek exposure to India's robust growth."

Alan, based in Hong Kong, was supported by counsel Stephanie Liman, associate Alec Duncan and trainee solicitor Holly Hill from the Singapore office.

Clifford Chance continues to play a significant role in advising on US dollar bond issuances for companies in Asia Pacific, having recently advised on Vedanta Resources' US$1.1 billion bond issuance, Health and Happiness' various refinancing transactions and Greentown China Holding’s US$500 million senior notes issuance and concurrent tender offers.