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Adani Group Considering Another Bond Issuance Worth $1.2bn
March 7, 2024
Adani Group is considering another issuance of bonds worth $1.2bn by June, according to sources. This is part of the Group’s renewable energy arm, Adani Green’s plan to raise $2bn in fresh debt this year. The sources added that the company was discussing the planned transaction with arrnagers and bankers and expected to conclude the issuance in four months. Adani Green already priced a $409mn bond with a tenor of 18Y earlier this week, which saw investor demand of $2.9bn, despite it being the Group’s first public bond sale after the Hindenburg allegations saga. The energy firm also raised $400mn via private placement last week.
Adani Green’s 4.375% 2024s traded stable at 98.8 cents on the dollar, yielding 6.9%.
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