CAM, TTA, Shearman, Ashurst & Ors act on Greenko’s sale of green bonds for $500 million

In the first high yield issue of its kind, the Greenko Group, based in Hyderabad, has raised $500 million through the sale of green bonds to foreign investors. Deutsche Bank, Investec, JP Morgan, Morgan Stanley and UBS acted as the joint book runners and lead managers to the issue..Cyril Amarchand Mangaldas acted as Indian legal counsel to Greenko, through a team led by Partners Santosh Janakiram and Gaurav Gupte. Shearman & Sterling acted as New York counsel for Greenko. The team was led by Partner Andrew Schleider and also included Counsel Eileen O’ Pray, Associates Jeremy Wang and Leo Wong, and Senior Legal Assistant Derek Perriam. Bedell Cristin Partnership acted as Mauritius counsel..Talwar Thakore & Associates was Indian legal counsel for the lead managers. The TTA team was led by Partners Rahul Gulati and Sonali Mahapatra, and also included Managing Associate Priyanka Kumar and Associates Shivangi Paranjpe and Kanwardeep Singh. Ashurst was offshore counsel for the lead managers; the team was led by Partner Anna-Marie Slot..Mayer Brown acted as legal counsel for the trustee bank..According to ET, Greenko Group is the largest clean energy independent power producer in India, with more than 1 gigawatt projects across hydro, wind and thermal energy. GIC is the majority shareholder, with 72% stake in Greenko Energy Holdings..The offering addressed the financing needs of Greenko Energy Holdings’ Indian operating subsidiaries. The notes are listed on the Singapore Exchange Securities Trading Limited.