Continuum Green Energy raises $350 m via offshore bonds

Morgan Stanley Infrastructure Partners-backed Continuum Green Energy raised $350 million by selling floating rate bonds to international investors. Those floating bonds were priced after adding a fixed mark-up over the Secured Overnight Financing Rate (SOFR), which will keep changing periodically. The proceeds will be used for refinancing and expansions both.

Deutsche Bank helped the company raise offshore money amid global uncertainties. Bonds will mature in three and a half years.

‘The international debt capital markets continue to remain volatile on account of rising interest rates and geopolitical tensions,” said Sameer Gupta, Head India DCM at Deutsche Bank. Adverse market conditions notwithstanding, capital remains available for strong credit and the right structures.”


The six-month SOFR, a global rate gauge, is yielding around 2.6 percent.