Dhir and Dhir Associates represented IDFC Limited on India’s first ‘credit enhanced’ infrastructure bonds which were issued by Renew Wind Energy (Jath) Private Limited for ₹451 crore, the said bonds were partially guaranteed by India Infrastructure Finance Company Limited (IIFCL) and counter-guaranteed by the Asian Development Bank (ADB). Through credit enhancement, the subscribers are provided with reassurance that the issuer company will honour the obligation through additional collateral, insurance, or a third party guarantee.

This Bond Issue would open up the bonds markets to infrastructure projects and will lead to the development of the Indian debt capital market.