Debt

Debt financing

Adani Green Energy arms raise Rs.612-Cr for debt refinancing

Business Standard  

Three arms of Adani Green Energy Ltd (AGEL) have collectively raised INR 612.30 crore through their maiden domestic bond issue on private placement basis for debt refinancing. The rated, listed, secured, redeemable, non-convertible debentures (NCDs) of face value of INR 10 lakh each, in multiple series, have an average annualized coupon rate of 7.83% per annum (fixed) and a tenure up to 12 years. The proceeds from the NCDs (bonds) will be utilised to part-refinance existing rupee term loan bearing higher interest cost. Three subsidiaries of AGEL Adani Green Energy (UP) Ltd, Prayatna Developers Pvt Ltd and Parampujya Solar Energy Pvt Ltd, collectively housing 930 MW of operational solar power projects have raised INR 612.30 crore by their maiden domestic bond issuance, on a private placement basis.