Bank of ______ has prolonged about Rs 800 crore to ReNew

Solution

Bank of America has prolonged about Rs 800 crore to ReNew Power, within the first native undertaking financing deal by the lender within the renewable energy sector. The five-year rupee-denominated inexperienced loan facility will assist the corporate decrease funding prices because the proceeds will primarily be used to prepay the present offshore loan earlier than its scheduled reimbursement date. The loan will assist save prices for masking foreign money threat amid international market volatility. The credit score line is linked to two devoted photo voltaic initiatives in India. Cash flows from these two initiatives might be used to repay the loan. ReNew Power Headquarters:Gurugram Chairman & MD:Sumant Sinha Bank of America Headquarters: North Carolina, United States CEO: Brian Moynihan