Adani Green Energy to raise $409m thru 18-year bond

MUMBAI, March 5: Indias Adani Green Energy is planning to raise funds through US dollar-denominated 18-year bonds, and has provided initial guidance of raising $409 million for a coupon of around 7.1250 percent, two bankers said on Monday.
This will be the Adani groups first dollar-denominated bond issue after a report by US short-seller Hindenburg Research in January 2023 led to a sell-off in stocks and overseas-listed bonds of Adani group companies.
The rout forced the company to retreat from the foreign currency bond market and led to a buyback of $315 million of listed overseas debt securities.
The proceeds from the issue will be used to refinance the 6.25 percent senior secured notes, worth $500 million, due in September 2024.    —Reuters