Azure Power $500 million 5.5% notes issue

Overview:

• Azure Power has issued $500 million 5.5% senior notes.
• The notes are due 2022.
• Azure Power Global acted as guarantor on the deal. 
• JP Morgan, Barclays and HSBC acted as joint global coordinators to the sale, while Credit Suisse, Societe Generale and Deutsche Bank were joint bookrunners. 
• Proceeds will be used for the replacement of the existing rupee borrowings with foreign currency credits.

Katrin Kostadinova - Data analyst