CleanMax raises ₹2,500 crore via Green Bonds
Issued under CleanMax’s Green Bond Framework, the bonds are backed by a defined green-use-of-proceeds framework, allocated for large-scale renewable energy projects
CleanMax, a company specializing in renewable energy, has successfully raised ₹2,500 crore through green bonds, marking a significant step in their commitment to sustainability. The bond issuance was conducted privately, tailored to generate interest from both international and domestic investors. Spanning five series with varying maturities and interest rates, these green bonds were created to fund large-scale renewable energy projects, all in line with stringent regulations set by SEBI and recognized ICMA Green Bond Principles.
The bonds are secured, redeemable, and listed, ensuring investor confidence. Notable partners in this venture include international financial giants like the International Finance Corporation (IFC), National Bank for Financing Infrastructure and Development (NABFID), and India Infrastructure Finance Company (IIFCL), alongside local entities such as Aditya Birla Capital, IDFC First Bank, Nippon India Mutual Fund, and several corporations.
CleanMax's Managing Director, Kuldeep Jain, expressed satisfaction with the diverse investor base, highlighting the company's strong fundamentals and the predictability of their cash flows. The bonds were orchestrated by Trust Investment Advisors Private Limited (TIAPL) and rated by CRISIL AA/Stable, which facilitated a favorable spread in the current macroeconomic climate.
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