Latham & Watkins Advises on Green Bond Sale by ReNew Power

Cross-border team advises on India bond sale.

November 03, 2020

Latham & Watkins represented ReNew Power Private Limited in connection with (1) the subscription by India Green Energy Holdings (the “Issuer”), a company incorporated under the laws of Mauritius, of Indian-rupee denominated non-convertible debentures to be issued by certain subsidiaries of, and guaranteed by, ReNew Power Private Limited and (2) the sale by the Issuer of US$325 million aggregate principal amount of its 5.375% Secured Notes due 2024.

This is the fifth bond offering where Latham has advised ReNew Power.  Latham previously represented ReNew Power in the high yield co-issuance of US$375 million of 6.67% Senior Secured Notes due 2024 by eight subsidiaries.

The Latham deal team was led by Singapore partner and India Practice Group Head Rajiv Gupta, supported by Hong Kong counsel Louis Rabinowitz and Singapore associate Priyanka Mehta. Tax advice was provided by New York partners Jiyeon Lee-Lim and Jocelyn Noll and New York associate Aaron Bernstein.  Chicago partner Nabil Sabki and Chicago associate John Reinert provided advice on Investment Company Act issues. 

About ReNew:

ReNew is one of India's leading renewable independent power producers. ReNew develops, builds, owns and operates utility scale wind and solar energy projects as well as distributed solar energy projects that generate energy for commercial and industrial customers. It operates more than 110 utility scale projects spread across 8 states in India.

About Latham’s India Practice:

With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practice’s among international law firms. The multi-award winning practice comprises more than 50 lawyers globally, and the team have advised on India-related matters with a combined value in excess of US$68 billion since 2017.

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