Sterlite Power has raised INR 200 crore in debt financing from Allianz Global Investors (Allianz GI). This transaction is one of the first infrastructure sector financing deals for Allianz GI in India. The INR 200 crore facility from Allianz GI has been raised as a non-convertible debenture with a three-year tenure and is part of the larger refinancing exercise undertaken by Sterlite Power to reduce its holding company borrowings.
Commenting on the transaction, Pratik Agarwal, Managing Director, Sterlite Power, said, “This transaction with Allianz GI is a strong validation of the continued trust reposed on us by the banking and investor community, and the rise of power transmission as an asset class with promising returns. We remain focused on our endeavour towards greening the grid by delivering some of the most challenging and impactful transmission projects in the country.”
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