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Bond Market News
Adani Green Completes Funding For September Dollar Bonds
January 30, 2024
Adani Green Energy has completed funding for its $750mn 4.375% bonds due in September this year. This comes after it received $300mn from TotalEnergies as part of a JV, $281mn from a preferential allotment to promoters and $169mn from its debt service reserve account and hedge reserves. It noted that the amount has been parked in fixed deposits which can be used only for the redemption of the bond.
Its 4.375% 2024s are currently trading at 98 cents on the dollar, yielding 7.8%.
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