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Bond Market News
Adani Green Repays Dollar Bond Due September, Skips Refinancing
September 10, 2024
Adani Green has said that it has fully repaid its $750mn 4.375% 2024s. It decided to repay the notes using its cash reserves and a fully funded redemption reserve account, avoiding the need for refinancing. The company said that its future capital management plan will focus on keeping a predictable cash flow stream to fund future growth, alongside supporting expansion with the proceeds from operating assets. Adani Green now has only one dollar bond outstanding.
Its 6.7% 2042s were trading stable at 95.75, yielding 7.25%.
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