Continuum Energy Aura, a subsidiary of India-focused renewal energy group Continuum Green Energy, launched a roadshow in the US, Singapore, Hong Kong, West Asia and Europe on April 18, 19, and 20 – to raise $400 million through overseas green bonds, people aware of the development said.

The proposed green bonds are likely to have a tenure of three-and-a-half years. HSBC, Standard Chartered Bank, and Deutsche Bank are helping the company raise funds.

The company will use the proceeds to mix refinancing and general corporate purposes, the people cited above said. Green bonds are usually meant to raise money to support environmental projects and eco-friendly infrastructure investments.

On April 18, S&P Global Ratings assigned ‘BB-‘ with a ‘Stable’ outlook on long-term issue ratings to the senior secured notes that Continuum Energy Aura proposed to issue. Continuum will guarantee the notes.

The stable outlook on the notes reflects the rating agency’s view that Continuum’s commissioning of wind-solar hybrid projects will support its operating performance to be in line with P90 estimates.

The rating agency said that the India-based renewable energy producer’s elevated leverage amid high capital spending and smaller scale with limited project diversity constrain its credit profile.