By William Gullotti
Buffalo, N.Y., Aug. 10 – India Cleantech Energy priced $334 million of 4.7% secured notes (Ba3//BB-) due Aug. 10, 2026, according to a listing notice Tuesday.
The joint lead managers and joint bookrunners for the Regulation S and Rule 144A offering are Barclays, Deutsche Bank AG, Singapore Branch and J.P. Morgan Securities plc.
The listing for the notes on the Singapore Exchange is expected on Aug. 11.
Proceeds, according to Moody’s Investors Service, will be used to subscribe to Indian rupiah-denominated non-convertible debentures to be issued by a newly formed restricted group comprising 12 directly or indirectly wholly owned or majority-owned subsidiaries of Acme Solar Holdings. The restricted subsidiaries will use those proceeds to repay project debt and advance a certain portion to Acme Solar.
India Cleantech Energy is a provider of solar energy equipment.
| Issuer: | India Cleantech Energy
|
| Issue: | Secured notes
|
| Amount: | $334 million
|
| Maturity: | Aug. 10, 2026
|
| Bookrunners: | Barclays, Deutsche Bank AG, Singapore Branch and J.P. Morgan Securities plc
|
| Coupon: | 4.7%
|
| Issue date: | Aug. 10
|
| Listing date: | Aug. 11
|
| Ratings: | Moody’s: Ba3
|
| Fitch: BB-
|
| Distribution: | Regulation S and Rule 144A
|
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