SAEL, an Indian renewable energy firm, is reportedly planning an inaugural dollar bond sale targeting up to $ 500 million. This move is in line with other borrowers aiming to fuel Asia's hottest high-yield market in five years. The company, known for developing sustainable energy projects like solar plant constructions, intends to launch the debut offering by the end of June. Proceeds from the sale are expected to be utilised for business expansion and debt refinancing, as per the same sources. It was added that the company is currently in discussions with a group of foreign banks to arrange the bond sale, seeking a tenor in the range of five to seven years. The planned note sale by SAEL is poised to contribute to the recent surge in issuance both in Asia and worldwide. Last week, issuers globally hastened to tap into the dollar debt market due to lower borrowing costs and a prevailing risk-on sentiment. Particularly in India, corporates have spearheaded Asian junk dollar bond sales, marking its first revival in five years, buoyed by strong investor appetite. This offering aligns with India's efforts to bolster the renewable energy sector. India aims to nearly triple its clean energy capacity by the end of the decade as part of its broader strategy to decarbonise its fossil fuel-driven economy.