JSW Hydro Energy to Issue USD Denominated Notes to Raise Funds
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JSW Energy announced on May 4, 2021 that its arm JSW Hydro Energy will issue USD denominated notes or green bonds in the overseas market to raise funds. The company hasn’t shared any information about the amount of money to be raised under the issue which is a part of a total notes program of USD 750 million.
The board of the company approved this issue of JSW Hydro Energy on March 26, 2021. The issuer (JSW Hydro Electricity) is a wholly-owned subsidiary of JSW Energy Limited. A BSE filing said that the issuer 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. “
US Dollar denominated notes will be secured by inter alia, assets of the JSW Hydro Energy and a pledge over 51 per cent of the equity shares of the Issuer held by the company. The company said in the filing that the details will be disclosed at the time of undertaking the issuance as required under the applicable law.
