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Indian Renewable Energy Development Agency to raise Rs 3 billion via bonds

According to reports, Indian Renewable  Energy Development Agency, or IREDA, is in talks with bankers to raise 3 billion rupees ($54.15 million) through a bond issue, a company source with knowledge of the deal said on Monday.

The state-run company is likely to borrow through either a 10-year vanilla bond or a 15-year bond embedded with a put/call option at the end of 10th year, said three bankers who the firm is in talks with for the sale.

The bond sale may happen as early as this week, said the company source.
IREDA is engaged in promoting and financing renewable energy and  conservation projects.

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