Hero Future Energies (HFE) renewable energy venture of the Hero group announced issuance of their first USD bond in global markets, through Clean Renewable Power (Mauritius), a wholly owned subsidiary of Hero Future Energies Asia.
HFE’s green bond received orders of over USD 3 billion and was successfully priced at a coupon rate of 4.25% for a six-year maturity period.
This green bond offering of Hero Future Energies found favorable demand across the globe from marquee investors resulting in 98% allocation to high-quality fund managers and insurance companies. It was oversubscribed more than 8.5 times.
HFE’s first USD bond offering has created a landmark by achieving the highest levels of over subscription for any transaction out of India this year in the USD bond market.
This bond offering has opened up the global debt capital markets for HFE, thereby diversifying the company’s existing sources of capital and positions HFE as a robust player in the global cleantech space.
This is a Syndicate News Feed; edited by Clean-Future Team