TT&A, Linklaters, Cyril Amarchand Mangaldas (CAM) and Clifford Chance advised on the inaugural US dollar bond issuance of USD600 million, 6.50% guaranteed senior secured notes due 2031 by ReNew Treasury IFSC.
The transaction marks the first US dollar-denominated bond issuance by a finance company registered in GIFT City, Gujarat.
CAM acted as domestic legal counsel for ReNew Treasury IFSC (issuer), advising on regulatory issues including the ability to issue guarantees and provide direct and indirect security for the issuance.
The transaction was led by senior partner Santosh Janakiram, partners Sangita John, Gokul Rajan and Nandita Menon, assisted by senior associate designate Jeetu Tolani, senior associate Ayushi Tiwari and associate Shreya J.
Linklaters Singapore acted as international legal adviser to the issuer and guarantors.
TT&A advised the joint global co-ordinators and bookrunners: Barclays Bank PLC, BNP Paribas, Deutsche Bank AG (Singapore), HSBC, JP Morgan Securities, MUFG Securities Asia (Singapore) and Standard Chartered Bank, together with Crédit Agricole Corporate and Investment Bank (Singapore), DBS Bank and SMBC Nikko Securities (Hong Kong) as joint bookrunners.
The TT&A team consisted of partners Rahul Gulati and Priyanka Kumar, senior associate Riya Shah, and associates Jhanvi Shah and Shrijaya Singh.
Clifford Chance acted as international legal advisers to the joint global co-ordinators and managers.
The notes were issued by ReNew Treasury IFSC, a wholly owned subsidiary of ReNew registered as a finance company in GIFT City, Ahmedabad. The notes are guaranteed by ReNew and ReNew Energy Global.
