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Continuum Wind Energy Ltd, sponsored by Singapore-based Clean Energy Investing Ltd, the indirect wholly-owned subsidiary of a Morgan Stanley fund entity, New Haven Infrastructure Partners, plans to issue its maiden green bond of $500-600 million, to be listed on the SGX. The proceeds will be used to refinance the project debt at six of its operating entities and to set up wind projects in India. The proceeds of the green bond will be used to refinance the project debt at six of its operating entities of the Continuum Group which together will form part of a bond issuing Restricted Group (RG1).
BW Businessworld
IFC Picks Up $56 Mn Of Continuum Energy s $561 mn-green Bonds
The IFC has subscribed to 10 per cent or USD 56 million of Continuum Energy s first green bond sale closed earlier this month
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The International Finance Corporation (IFC) has picked up 10 per cent of the first green bond issuance worth USD 561 million by Continuum Wind Energy as the anchor investor.
The IFC has subscribed to 10 per cent or USD 56 million of Continuum Energy s first green bond sale closed earlier this month, the World Bank Group member said.
On February 2, PTI was the first to report that Continuum was in the market to raise USD 560 million via a six-year green bond issue. Finally, it closed the issue raising USD 561 million at a price of 4.5 per cent over the US treasury.
A day after the Union Budget proposed a substantial capital expenditure push, foreign investors swarmed over a green bond offering from India, indicating a ready stream of money for financing roads, ports, and other infrastructure in the country. Continuum Wind Energy’s bond offering of $560 million, with an average tenure of 5.1 years, received $3.2 billion pre-order bids from investors as soon as the issue opened in the US markets. While the initial price guidance was 4.875 per cent, the issue was priced at 4.5 per cent, given the investor interest. The issue was closed the same day it was opened because of the response.