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Adani Green Postpones Dollar Bond Issuance
October 17, 2024
Adani Green has postponed its dollar bond issuance that was launched earlier this week. The company had planned to raise about $1.2bn, but has deferred it to after the US elections on account of weak market conditions, as per sources. The expected offering is now likely to be made in mid-November or early January, they added. To recollect, Adani Hybrid Renewables had launched a 20Y bond at an initial price guidance of 7% area, with an expected rating of Baa3/BBB- (Moody’s/Fitch).
Adani Green’s existing 6.7% 2042s were trading slightly weaker at 97.1, yielding 7.06%.
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