Sindicatum Renewable Energy Company’s $40 Million Bond Offering

Norton Rose Fulbright has advised GuarantCo, the international development finance institution, in relation to a landmark INR 2.5 billion (approximately US$40 million) dual tranche unsecured wrapped and rated bond issuance by Sindicatum Renewable Energy Company Pte Ltd.

Sindicatum is an Asian developer, owner and operator of clean energy projects. The company, led by Assaad Razzouk, Robert E. Driscoll and Michael Boardman is based in Singapore.

The bond is ground breaking due to a number of firsts. It is the first green bond issued in Indian Rupees by a Singaporean corporate, the first international green bond issued in accordance with both ASEAN Green Bond Standards and ICMA’s Green Bond Principles, the debut international green bond in Asia with a maturity of 7 years issued by a renewable energy developer and the longest dated international INR-denominated bond in Asia by a corporate. It is also the first international bond guaranteed by GuarantCo.

Sindicatum Renewables intends to use the proceeds to finance renewable energy projects in India and refinance existing debt.

The Norton Rose Fulbright advised with a team including Dan Metcalfe (Picture), Vicky Muenzer-Jones, Yu-En Ong, Cynthia Teo, Lishi Fong, Yi-En Ang, Vannina Castellani and Jacqueline Heng.

Involved fees earner: Daniel Metcalfe – Norton Rose Fulbright; Vicky Muenzer-Jones – Norton Rose Fulbright; Yu-En Ong – Norton Rose Fulbright; Cynthia Teo – Norton Rose Fulbright; Lishi Fong – Norton Rose Fulbright; Yi Jia Ng – Norton Rose Fulbright; Vannina Castellani – Norton Rose Fulbright; Jacqueline Heng – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: GuarantCo Ltd.;