ReNew Energy Global Raises $600 Million via Bond Issue in GIFT City

ReNew Energy Global has raised $600 million through a bond issuance from the International Financial Services Centre at GIFT City. The funds will be used to repay debt, primarily the $525 million raised at 7.95% in 2023. The new bond was issued at 6.50%, reducing interest costs and allowing the company to whittle down its debt. The larger tranche of $525 million was due for repayment in July.