Indian Renewable Energy Dev. Agency Green Masala Bond Coupon payment on 12.10.2021 (9272O)

TIDM89NA

RNS Number : 9272O

Indian Renewable Energy Dev. Agency

13 October 2021

13(th) October 2021

Announcement of coupon payment due on 10th October 2021 on the USD 300 Million green Masala Bonds (Adjusted date of payment: 12.10.2021)

Indian Renewable Energy Development Agency has duly paid the coupon due on USD 300 Million Green Masala Bonds on 12.10.2021. The due date of coupon payment was 10.10.2021 but due to 10(th) October being Sunday( non-working day) and 11(th) October being New York Public holiday, the payment of coupon was pushed to 12.10.2021.

The details of the Coupon payment on Green Masala Bonds amounting to USD 300 Million is due on:

 
 Sr.No.   Particulars                            Details 
 1.       Instrument                        Green Masala Bonds 
         ----------------------------  --------------------------- 
          Date of Interest              12.10.2021 (Adjusted date) 
 2.        Payment 
         ----------------------------  --------------------------- 
 3.       Redemption Date                       10.10.2022 
         ----------------------------  --------------------------- 
          Coupon Rate                          7.125% p.a. 
 4.                                            (Fixed Rate) 
         ----------------------------  --------------------------- 
          Coupon Amount (in 
 5.        USD)                               18,559,471.12 
         ----------------------------  --------------------------- 
          Coupon Amount (in 
 6.        INR)                              138,93,75,000.00 
         ----------------------------  --------------------------- 
 7.       Amount of bonds outstanding        USD 300 Million 
         ----------------------------  --------------------------- 
 8.       ISIN                                 XS1692377945 
         ----------------------------  --------------------------- 
 9.       Common Code                           169237794 
         ----------------------------  --------------------------- 
 10.      Day Count Fraction                      30/360 
         ----------------------------  ---------------------------

Chief Financial Officer

Dr. R C Sharma

Tel: +91 (11) 26717430

Fax: +91 (11) 26717416

E-mail: rcsharma@ireda.in

For investor enquiries please contact:

Mr. Surender Suyal, Company Secretary & Additional General Manager (Finance & Accounts)

Tel: +91 (11) 26717430

Email: ssuyal@ireda.in

NOTES TO EDITORS

About Indian Renewable Energy Development Agency (IREDA)

We are a 100% Government of India ("GoI") owned enterprise under the administrative control of the Ministry of New and Renewable Energy (the "MNRE) with more than 34 years of experience in the Indian renewable energy sector. We provide financial assistance to renewable energy projects, companies and manufacturers in India for power generation, equipment supplies and fuel source projects including wind power, solar power, hydro power, biomass, co-generation and waste to energy as well as energy efficiency and conservation. Our comprehensive suite of financial products and services includes various fund-based financial products including long-term and short-term project and manufacturing loans, take out financing, bridge loans and bill discounting, factoring for purchasing Receivables of Solar Power Developers payable by Eligible Entities, Top up Loans for easing out liquidity requirements and non-fund-based assistance like performance guarantees, letters of comfort, letters of undertaking. In addition to our financial products and services, we have a fully functional 50 MW Solar Photovoltaic Project in 200 MW Kasaragod Solar Park in the state of Kerala.

We play a significant and strategic role in the GoI's RE target of 175 GW by 2022 and 450 GW by 2030. We have played a key role in various initiatives of GoI for the promotion and development of the renewable energy sector in India and have been involved in the development and implementation of various policies and structural and procedural reforms in the renewable energy sector. We have also been involved in various GoI programs for the development of renewable energy sector including the Wind GBI Scheme, the Solar GBI Scheme and the Solar Water Heating System Capital Subsidy Scheme.

In the budget announcement in February 2021, GoI has announced infusion of equity of Rs. 1500 crore in the company in FY 21-22 which is much needed for IREDA to continue playing pivotal role in the RE sector financing.

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