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10th August 2018

GuarantCo guarantees USD 60M in local currency Green Bonds

Bonds will support Sindicatum Renewables to support solar and wind projects in India and the Philippines

PIDG company GuarantCo has signed a deal with Sindicatum Renewables, a Singapore-based renewable energy project owner and operator, for USD 60M in Green Bonds. With this deal, Sindicatum Renewables will be the first offshore corporate entity to issue a local currency bond from Singapore.

The proceeds from the bonds will be used towards funding the construction and acquisition of solar and wind power projects in India and in the Philippines. It is expected that over 140,000 people will benefit from improved service levels through nearly a billion kWh net electricity exports by the greenfield projects in the Philippines.  In addition, 2,700 people will benefit from employment during the construction phase of the projects in both India and the Philippines.

Assaad W. Razzouk, CEO of Sindicatum Renewables, said: “We are delighted to have successfully completed this landmark Philippine Peso-denominated Green Bond.  Our follow-on transaction was very well received by the market and attracted high quality long-term investors allowing us to extend the maturity profile of our debt.  We can now expand further our renewable energy footprint in the Philippines where we intend to rapidly build a portfolio of 250MW of solar and wind assets.”

See the full story on the GuarantCo website.