Linklaters advises ReNew Energy on landmark US$600m senior secured green bond issuance, the first issuance by a corporate using the GIFT City entity

Linklaters has advised its longstanding client ReNew Energy on the issuance of US$600m 6.5% senior secured green bonds due 2031. The bonds were issued through ReNew’s GIFT City (Gujarat International Finance Tec-City) subsidiary, ReNew Treasury IFSC Private Limited, a wholly owned subsidiary of ReNew Private Limited, and this marks the first time a corporate has issued bonds using the GIFT City entity.

ReNew is a leading decarbonization solutions company listed on Nasdaq whose clean energy portfolio is one of the largest globally. In addition to being a major independent power producer in India, ReNew provides end-to-end solutions in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon.

The green bonds are guaranteed by both ReNew Energy Global plc and ReNew Private Limited. The transaction attracted strong demand from institutional investors across Asia, the United Kingdom and the United States, reflecting substantial international investor confidence in ReNew’s credit profile and green financing framework. It also represents the first-ever international bond issuance by an entity incorporated in GIFT City.

The Linklaters team was led by Partner and Head of India Practice Amit Singh and capital markets partner Michele Discepola, with support from counsel Magdalena Biereder and senior associate Alex Cui.