Greenko in Talks to Raise $475 Million From 6 International Banks; Commitments Expected This Month 

Greenko Energy Holdings is negotiating USD loans totalling $475 million from a clutch of international banks to refinance its entire $435 million 6.25% notes due February 2023, two sources said. The GIC-backed renewable power producer is in talks with six banks – Barclays Bank, BNP Paribas, DBS Bank, Deutsche Bank, HSBC and JPMorgan – to raise loans on a bilateral basis, both the sources said. Last week, Reorg first reported that Greenko is likely to refinance its USD bond maturing in February entirely through bank loans. While DBS and HSBC are in discussions to lend $200 million and $75 million, respectively, the remaining four lenders have held talks to commit $50 million each to Greenko, both the sources said. Among the banks, DBS has shown an all-in-cost pricing of SOFR+ 450bps, the lowest among all the banks involved, both the sources said. The company has held bilateral discussions with banks to negotiate tighter pricing for the loans, as reported. The company has also held discussions with banks for loans with a maturity profile of 18-24 months, but the maturity of the bilaterals raised from the international banks is likely to be around 12 months, both the sources said. These would[...]