Shearman & Sterling represented Greenko Energy Holdings and Greenko Solar (Mauritius) Limited in connection with the offering of $500 million in aggregate principal amount of 5.55% senior notes due 2025 and $450 million in aggregate principal amount of 5.95% senior notes due 2026 by Greenko Solar (Mauritius) Limited, guaranteed by Greenko Energy Holdings on a senior basis. This is the largest green bond in Asia and the largest high yield bond from India this year.
Greenko Energy Holdings is one of the leading independent owners and operators of clean energy projects in India. Its portfolio of assets consists of (i) operational projects with a combined installed capacity of approximately 4.2 GW across hydro, wind and solar power and (ii) projects under construction and development with a total capacity of approximately 3.3 GW, including two integrated renewable energy storage projects.
The Shearman & Sterling team was led by partner Andrew Schleider (Singapore-Capital Markets), with support from associate Jeremy Wang (Singapore-Capital Markets) and senior legal assistant Derek Perriam (Hong Kong-Capital Markets).
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