India Green Energy to redeem $325 million 5 3/8% notes due 2024

By Mary Katherine Stinson

Lexington, Ky., Dec. 22 – India Green Energy Holdings received a redemption notice for its $325 million 5 3/8% secured notes due 2024 (Cusip: V4819FAA3 and 45410FAA3) from ReNew Private Ltd., the parent guarantor, according to a notice on Friday.

The redemption, currently scheduled for Jan. 2, is conditional upon the issuers obtaining funds through one or more financing options, including the issuance of new debentures, on acceptable terms and in an amount sufficient for the repurchase at the redemption price.

In accordance with notes’ conditions, after the redemption settlement and the occurrence of a non-convertible debentures redemption/purchase event, the company will redeem all of the notes at the early redemption amount plus accrued interest on the early redemption date.

The company finances power projects.

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