Adani Green redeems $750-mn bonds
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New Delhi: Adani Green Energy Ltd (AGEL) on Monday said it has completed the funding for redemption of its $750 million bonds, eight months ahead of their maturity. The Adani Group company had raised $750 million through the issuance of NCDs (non-convertible debentures) which will mature in September this year. On January 8, AGEL had announced a plan to ensure early redemption of its $750 million bonds.
In a statement on Monday, AGEL said it has “completed the funding for the $750 million 4.375 notes due September 9, 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of Rs9,350 crore ($1,125 million) to the promoters.”
Sharing a break-up, AGEL said $169 million has been put through the reserve accounts and internal accruals, while another $300 million has recently been invested by TotalEnergies through a joint venture.
