Global law firm Ashurst has represented Barclays, DBS, Deutsche Bank and J.P. Morgan as the initial purchasers of US$750 million 5.50% senior notes due 2025 issued by Greenko Wind Projects (Mauritius) Ltd, a subsidiary of Greenko Energy Holdings, one of the leading independent owners and operators of clean energy projects in India. The issuance was classified as a green bond issuance. The issuer was a special purpose vehicle incorporated in Mauritius and established to make specific investments in external commercial borrowings or non-convertible debentures issued to finance the construction and development of a pumped storage hydropower project in Andhra Pradesh, India.
The issuance represents a significant success in the face of difficult market conditions following the Russian invasion of Ukraine and was one of few high yield debt offerings globally that reached a successful conclusion in the first half of 2022.
The Ashurst team was led by Anna-Marie Slot, who was assisted by Senior Associate Eileen Kelly and Ashurst Advance Delivery team mangers Abbi Thompson and Jack Ogilvie.
