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Stock impact report

Indian renewable firms plan $2.5 bln in offshore dollar bond issues [Reuters (UK)]

Azure Power Global Limited Equity Shares (AZRE) 
Last azure power global limited equity shares earnings: 2/11 04:31 pm Check Earnings Report
US:NYSE Investor Relations: investors.azurepower.com
Company Research Source: Reuters
Indian renewable firms plan $2.5 billion in offshore dollar bond issues MUMBAI Four Indian renewable power producers are planning to raise up to $2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said. In addition to the four solar and wind power firms, a fifth company that invests in renewable projects, Adani Group, has raised $250 million via a loan but has yet to publicly announce the borrowing, the sources told Reuters. A source working with one of the bond issues said foreign borrowing was attractive because state banks were reluctant to lend due to existing bad loans to the power sector, while domestic banks worried about falling tariffs for solar power. Foreign investors have been attracted to the sector by India's commitment to expand renewable power capacity, with plans to invest close to $150 billion to meet its 2022 targets, analysts and bankers said. New York-listed Azure Power Global Ltd ( AZRE.N ), which has projects in the Show less Read more
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