ReNew Power has raised approximately ₹3,286.5 crores ($400 million) from foreign investors in the first high-yielding bond issue out of India in more than a year. The bonds were sold by a Mauritius-based arm of ReNew Power, Diamond II Ltd.

Linklaters acted for ReNew Power in this transaction. The Linklaters team was led by Amit Singh - Head of South and South-East Asia Capital Markets, Singapore.

The money raised through the bond will help the company refinance its secured overnight financing rate (SOFR) linked loans, interest rates on which have gone up by up to 4 percentage points in the last year.

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