Continuum green bond issue shows global players vying for India infra pie

Continuum Wind Energy's six-year bond of $560 mn got over $3 bn pre-order bids on opening in US. Initial price guidance was 4.875%, issue rate could be as low as 4.5%

A day after the Union Budget proposed a substantial capital expenditure push, foreign investors swarmed over a green bond offering from India, indicating a ready stream of money for financing roads, ports, and other infrastructure in the country.  

Continuum Wind Energy’s bond offering of $560 million, with an average tenure of 5.1 years, received $3.2 billion pre-order bids from investors as soon as the issue opened in the US markets. While the initial price guidance was 4.875 per cent, the issue was priced at 4.5 per cent, given the investor interest. The issue was closed the same day it was opened