PSU PRESS RELEASE
EESL raises Rs 500 crore through bonds planning additional Rs 700 crore masala bonds
New Delhi: Energy Efficiency Services Limited (EESL), a state-owned firm under the aegis of the power ministry, has raised Rs 500 crore from the market through its maiden bonds issue to fund energy efficiency projects in India.
"Domestic bonds worth Rs 500 crore were issued to investors on private placement basis at a coupon rate of 8.07 per cent per annum. These bonds have been rated AA by ICRA and CARE. The maturity of the bonds range from 3.5 to 7 years," the power ministry said in a statement.
EESL is also planning to introduce Green Masala Bonds worth around Rs700 crore in November this year. However, we are confident of a great response from investors looking at our unique model," EESL Managing Director Saurabh Kumar said.
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