Deals this week: Kalpataru Power Transmission, Maxwell Technologies, NextEra Energy Partners
Kalpataru Power Transmission plans to raise Rs1bn ($15.57m) through a private placement of 8.11% unsecured, redeemable, taxable, non-convertible debentures (NCD) due on 27 September 2022.
The India-based company proposes to issue 1,000 NCDs of Rs1m ($0.016m) each and list them in the wholesale debt market segment of BSE.
Maxwell Technologies intends to raise gross proceeds of $50m in a private placement of convertible senior unsecured notes due 2022 to qualified institutional buyers.
The initial purchasers of the notes will have an option to purchase additional notes worth up to $7.5m in aggregate principal amount.
The US-based company is engaged in the manufacture of capacitor energy storage and power delivery solutions.
Net proceeds from the offering are intended for general corporate purposes.
NextEra Energy Partners intends to raise gross proceeds of $550m through a private placement of 4.25% senior secured notes due 15 September 2024.
To be subscribed only by qualified institutional buyers, the notes will be fully and unconditionally guaranteed on a senior basis by NextEra Energy Partners and NextEra Energy US Partners Holdings.
Proceeds from the offering are intended to clear debts; cover related fees, expenses, and other costs; and cover general partnership purposes.
NextEra Energy Partners owns and operates renewable energy projects.
South African Renewable Green Energy Proprietary (Sarge) has reached an agreement to raise gross proceeds of R57.49m ($4.34m) in a private placement of A and B class preference shares.
GAIA Financial Services Proprietary (GAIA FS) will subscribe to the offer, which includes A preference shares for gross proceeds of R57.4m ($4.33m) with a term period of 17 years, and B preference shares for gross proceeds of R0.09m ($0.007m).
The company intends to use the proceeds raised to repay a loan advanced by Gestamp Eolica and to acquire the shareholding of minority shareholders in Sarge by way of share repurchase.
Mytrah Energy (India) has raised $150m in a private placement of seven-year non-convertible debentures, subscribed entirely by Piramal Group.
The company intends to use the proceeds to provide growth capital and replace the existing investments from IDFC Alternatives, AION Capital, Merrill Lynch, and Goldman Sachs.