India, Sept. 18 -- KPI Green Energy Ltd, a Gujarat-based renewable energy developer and operator, has listed its first-ever green bond of ?670 crore on the National Stock Exchange of India, marking a milestone for sustainable finance in the country's renewable energy sector.
The five-year bond carries an annual coupon of 8.50% with a quarterly amortisation schedule and is backed by a 65% partial guarantee from GuarantCo—part of the Private Infrastructure Development Group, funded by the governments of the UK, Switzerland, Australia, Sweden, the Netherlands, Canada and France. Rated AA- by Fitch and A1 by Moody's, GuarantCo's support has enabled KPI Green Energy's bond to secure an AA+(CE) rating from both CRISIL and ICRA, widening it...