This issue is part of a total notes programme of USD 750 million of JSW Hydro Energy, which was approved by the board of JSW Hydro Energy on March 26, 2021.
NEW DELHI: JSW Energy on Tuesday said its arm JSW Hydro Energy will issue USD-denominated notes (green bonds) in overseas markets to raise funds.
However, the company did not disclose the amount to be raised under this issue.
This issue is part of a total notes programme of USD 750 million of JSW Hydro Energy, which was approved by the board of JSW Hydro Energy on March 26, 2021.
“The issuer (JSW Hydro Energy) is proposing, subject to market conditions and certain conditions precedent, an issue of debt instruments in the form of US dollar denominated senior secured notes,” a BSE filing said
The issuer is a wholly-owned subsidiary of JSW Energy Limited.
The notes will be secured by, inter alia, assets of the Issuer and a pledge over 51 per cent of the equity shares of the Issuer held by the company, it said.
Earlier on March 26, 2021, JSW Energy board had noted the decision of the JSW Hydro Energy board about issuance of green (subject to certification) bonds.
JSW Hydro board had approved raising long term funds through the issuance of non-convertible, senior, secured, fixed rate green (subject to certification) bonds in the international markets for an amount up to USD 750 million, subject to market conditions and receipt of necessary approvals.
The detailed disclosure will be made at the time of undertaking the issuance, as required under applicable law, it had said in the filing on March 26, 2021.
JSW Hydro Energy is a 100 per cent subsidiary of the company and owns and operates the Karcham-Wangtoo (1000 MW) and Baspa II (300 MW) hydro-electric power plants in Himachal Pradesh, India.
Source: PTI
