Indian Renewable Energy Development Agency Limited (IREDA) has raised Rs 9.10 billion through the issuance of privately placed subordinated Tier-II bonds with a 10-year tenor. Raised at an annual coupon rate of 7.74 per cent, the funds will be utilised to leverage liquidity in the financial market and support IREDA’s borrowing strategy.
Additionally, the funds will enhance the company’s Tier-II capital, thereby strengthening its net worth and improving its capital to risk-weighted assets ratio. They will contribute to scaling up renewable energy financing and facilitating the deployment of green energy projects across the country.
Earlier this month, IREDA issued perpetual bonds, raising Rs 12.47 billion at an 8.40 per cent annual coupon rate to strengthen its tier-I capital, enhance its financial structure, and expand funding for renewable energy projects.
