ReNew plans $500 million bond issue via GIFT City IFSC

ReNew Energy Global PLC is preparing to raise around $500 million through a U.S. dollar-denominated bond issuance routed via the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City). The proposed issue is aimed at refinancing existing debt, including a major maturity due in July 2026, and meeting other corporate funding needs.

According to the proposed structure, the proceeds will be used for on-lending to entities within the ReNew Group and for repayment of outstanding borrowings. A key use of funds includes addressing debt of approximately $525 million maturing in July 2026. Part of the capital will also be deployed for on-lending to certain restricted group entities, along with other permitted corporate purposes.

The transaction is expected to rank among the larger offshore fundraising exercises executed through the GIFT City IFSC framework. The bond issuance is being managed by a group of international banks acting as joint global coordinators and joint bookrunners. The banks involved are Barclays, BNP Paribas, Deutsche Bank, HSBC, JPMorgan, Mitsubishi UFJ Financial Group (MUFG), and Standard Chartered Bank.

The planned bond issue follows recent financing activity by the company. In November 2025, ReNew Energy Global PLC secured $331 million in debt financing from the Asian Development Bank (ADB) for a clean energy project in Andhra Pradesh. The funding package included $291 million in local currency from ADB’s ordinary capital resources and $40 million from the Leading Asia’s Private Infrastructure Fund 2.

The featured photograph is for representation only.