BusinessIndia

Sterlite Power successfully raises Rs 200 cr from Allianz Global Investors

Mumbai: Sterlite Power, a leading global power transmission player, on Monday said that it has raised Rs 200 crore in debt financing from Allianz Global Investors (Allianz GI) – one of the world’s leading investment managers with focus on sustainable investments.

This transaction is one of the first infrastructure sector financing deals for Allianz GI in India. The Rs 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.

Sterlite Power is increasingly focused on integrating renewable energy (RE) to the grid. The company enjoys an impressive track record of completing projects on time with the highest standards of quality and safety.

Commenting on the transaction, Mr 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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