SBI Tokyo

Indian Renewable Energy Development Agency Limited (IREDA) has secured a loan facility worth approximately $172 million from the State Bank of India (SBI) Tokyo. The loan includes a greenshoe option of around $66.2 million through external commercial borrowings. Structured as a five-year unsecured facility with a bullet repayment at maturity, the loan is expected to have a landed cost below 7 percent after hedging. IREDA plans to use the funds to diversify its resource base…