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Adani Group is said to be planning to raise $350mn via an issuance of dollar bonds in 2024 to refinance its $500mn 6.25% bonds due December 2024. The bonds due December are issued by Restricted Group 1 that has three subsidiaries namely, Adani Green Energy (UP) Ltd., Parampuja Solar Energy Ltd. and Prayatna Developer Pvt Ltd. The CFO of Adani Group said that they could even redeem the bonds on July 7 without paying a pre-payment penalty. He added that they have prepared for both, a private placement and bond issues to refinance the notes. Regarding Adani Green’s $750mn 4.375% bonds due September 2024, he said that necessary funds have been arranged via its escrow account as part of its bond redemption reserves. Separately, the group also plans to invest INR 7tn ($84bn) over the next decade in infrastructure.
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