Azure Power conditionally calls 5½% senior notes due 2022

By Marisa Wong

Los Angeles, Aug. 16 – Azure Power Energy Ltd. issued a notice of conditional redemption for all $500 million of its 5½% senior notes due 2022 (Cusip: 05502JAA8, V00027AA6).

The company will redeem the notes in full on Aug. 20 at 101.375 plus accrued interest.

The redemption is subject to a financing condition. The company said it expects to issue prior to the redemption date new senior notes, proceeds of which will be used, together with cash, to fund the redemption.

Citibank, NA, London Branch is the paying agent.

The issuer is a Mauritius-based subsidiary of Azure Power Global Ltd., a New Delhi-based solar power company.

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