Reliance Power Ltd enters into MoU with Varde Partners for raising upto Rs. 1200 crores

Reliance Power Ltd (RPL) and its subsidiary entered into a indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of upto ~ Rs 1,200 crore (US$ 150 million) for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by RPL.

The drawdown of the debt will be subject to finalization and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules / laws / regulations.

The terms of the Proposed Financing and the definitive documents in relation to the proposed financing will be announced in due course.

Reliance Power Limited, a part of the Reliance Group, is India's leading private sector power generation and coal resources company. The Company has one of the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.

Source : Equity Bulls

Keywords

ReliancePower Subsidiary MoU VardePartners FundRaising DebtSettlement