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Bond Market News
Greenko Founders Buy Orix’s Stake with $800mn Private Credit Loan
April 2, 2025
Greenko Energy Holdings’ founders, Anil Chalamalasetty and Mahesh Kolli, have secured an $800mn private credit loan, India’s largest this year, from Clifford Capital (backed by Temasek) and BlackRock to finance the $1.46bn acquisition of Orix Group’s 20% stake in Greenko. The financing, arranged via their entity AM Green Power, carries an interest rate of 11.5-12% and was syndicated by Deutsche Bank and Barclays. The deal was first announced in late January.
Greenko’s new 7.25% 2028s have inched lower since issuance, currently at 98.95 yielding 7.61%.
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