In what is India's largest private credit deal this year, founders of Greenko Energy Holdings, Anil Chalamalasetty and Mahesh Kolli, have raised an $800-million private credit loan, from Temasek-backed Clifford Capital and BlackRock, to buy Orix Group's 20% stake in company, people told ET.
"Last week, Greenko's founders raised $800 million, primarily from Clifford and BlackRock," said a source.
In January, Orix had agreed to sell its 20% stake in Greenko to AM Green Power, owned by Greenko founders, for $1.46 billion. A Clifford Capital spokesperson declined to comment while BlackRock and Greenko did not respond to requests for comment. Financing, arranged via AM Green and raised at 11.5-12%, was syndicated by Deutsche Bank and Barclays, according to an ET report on March 9.
"Last week, Greenko's founders raised $800 million, primarily from Clifford and BlackRock," said a source.
In January, Orix had agreed to sell its 20% stake in Greenko to AM Green Power, owned by Greenko founders, for $1.46 billion. A Clifford Capital spokesperson declined to comment while BlackRock and Greenko did not respond to requests for comment. Financing, arranged via AM Green and raised at 11.5-12%, was syndicated by Deutsche Bank and Barclays, according to an ET report on March 9.
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