News

IPP

Staff Reporter

, India

Published:

9 years ago

CLP India issues partially credit enhanced bonds for its Jhajjar Power Plant

INR476 crores to be raised.

According to a release, CLP India, one of the largest foreign investors in the Indian power sector, announced that it’s wholly-owned subsidiary, Jhajjar Power Limited (“JPL”), has issued corporate non-convertible bonds for their biggest asset in the country, the 1,320 MW coal-fired power plant at Jhajjar, Haryana.

JPL is raising INR 476 crores through issue of secured, partially-guaranteed, redeemable, non-convertible debentures with final maturity of 11years.

India Ratings and Research Private Limited has assigned a rating of AA+(SO) to the bonds. The bonds, with a semi-annual coupon of 9.99% per annum, are being issued in two series of equal amounts and will mature in April 2025 and April 2026 respectively.

The bonds will be issued on Thursday, 9th April 2015 and will be listed on the Wholesale Debt Market segment of the BSE. Standard Chartered Bank and IDFC Limited are the lead managers to the issue.

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