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CLP Wind Farms, a unit of CLP India, became the first corporate from the country to issue a green bond on September 15. Market participants expect India's green issuance to take off, as it needs such financing with more liquidity expected to guarantee pricing benefits.
The Indian company, along with joint lead managers HSBC, IDFC and Standard Chartered, started talking to domestic investors in early September about bonds to fund capital expenditure of its projects in the renewable space.
After a couple of weeks, the company finally decided to open books on September 14 with price guidance fixed at 9.15%. The bonds, capped at Rs6bn ($90.67m), were equally divided in size into three notes that mature April in 2018, 2019...