Azure, Hero Future Energies each plan USD-500m bond sale - report

Azure Power Solar PV Plant (Photo: Business Wire)

April 19 (Renewables Now) - India’s Azure Power Global Ltd (NYSE:AZRE) and Hero Future Energies Pvt Ltd are each looking to raise about USD 500 million (EUR 444.7m) through the sale of bonds to overseas investors, The Economic Times (ET) reports.

People briefed on the matter have told the newspaper that each party has appointed investment banks to underwrite their separate offerings, which should take place over the next few weeks.

The report notes that this will be the second such offering for Azure, which raised just as much two years ago. At the same time, the renewable energy arm of the Hero Group is reviving a shelved plan.

People in the know have also told the ET that Hero Future Energies is holding talks with a group of investors to raise USD 200 million in equity funding.

(USD 1.0 = EUR 0.889)

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