Symbiotics Launches INR 1,260 Million Bond To Finance Indian C&I Solar Developer Fourth Partner Energy Limited
Symbiotics, the leading market access platform for impact investing, has arranged its first bond, the proceeds of which are solely used to finance renewable energy projects. It raised INR 1,260 million (about $17 million) for Fourth Partner Energy Limited (“Fourth Partner Energy”), a commercial and industrial solar developer in India.
This bond is issued via Symbiotics' sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.). Investors in the bond are ASN Groenprojectenfonds (INR 345 million), Triodos Groenfonds (INR 345 million) and Symbiotics’ advisory and mandated funds (INR 570 million). The bond proceeds are to be fully used for a four-year, senior unsecured, local currency loan to Fourth Partner Energy.