Shardul Amarchand Mangaldas & Co. advises Continuum Green Energy Group on the issuance of senior secured notes by its subsidiaries

July 10, 2024

Shardul Amarchand Mangaldas & Co. advised Continuum Green Energy Group (“Continuum”) on issuance of senior secured notes equivalent to U.S.$650,000,000 (“Notes”), issued by 8 subsidiaries of Continuum (“Co-Issuers”) under Regulation S/ Rule 144A of the U.S. Securities Act of 1933. The Notes are listed on the Global Securities Market of India International Exchange (IFSC) Limited and represent external commercial borrowings availed by the Co-Issuers.

Shardul Amarchand Mangaldas & Co. also acted as Indian counsel to Continuum in connection with a tender offer for purchase of outstanding U.S.$561,000,000 senior notes listed on Singapore Exchange, issued by Continuum Energy Levanter Pte. Ltd. in 2021.

Continuum is a renewable energy group based out of India, focusing on large-scale wind farms which can be co-located with solar photovoltaic (PV) installations. Founded in 2009, Continuum is one of the largest suppliers of renewable energy to the category of C&I or commercial and industrial customers in India with an operating capacity of 1,299.8 MW.

The transaction team was led by Prashant Gupta, Partner; Shubhangi Garg, Partner with assistance from Himanshu Malhotra, Principal Associate; Shweta Singh, Senior Associate; Sandeep Grewal, Associate; Gunjan Shrivastav, Associate.

Gouri Puri, Partner and Nimish Malpani, Senior Associate assisted with analysis on tax aspects.

Subhojit Das, Senior Associate, and Vijay Nekkanti, Associate assisted with analysis on the project and infrastructure law aspects.