Avaada raises $370M in bond sale to refinance renewables debt
What's the deal? India's Avaada VenturesDealroom has a profile for this one. Try Dealroom → has raised 35.15 billion rupees ($366.63 million) through the sale of two series of bonds, three bankers told Reuters. Both series mature in three years.
What's the money for? The bond sale is part of a broader refinancing push. Avaada plans to raise 35.15 billion rupees via non-convertible debentures alongside $398 million through external commercial borrowing, both earmarked for debt refinancing.
Why now? Renewable-energy developers in India lean heavily on debt to fund capacity, and refinancing lets them replace older, costlier borrowing as projects mature.
The signal: The multi-tranche raise shows how India's clean-energy players are tapping domestic bond markets and offshore lenders together to manage rising capital needs, spreading maturities and funding sources across their balance sheets.
Read more: thedailyguardian.com, economictimes.indiatimes.com
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