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Adani Green Energy raises $750-M from green bond sale

MyBigPlunge  

Adani Green Energy Ltd (AGEL) has raised USD 750 million (around INR 5,483 crore) through green bonds. The 3-year bonds carry a coupon of 4.375 %. The notes were rated Ba3 (stable) by Moody's. The issuance was oversubscribed by 4.7x. The funds shall be used towards equity funding of the capex for renewable projects under construction by AGEL. . With this USD 750 million issuance, AGEL has completed the final phase of its capital management plan, and now has a fully funded programme for both debt and equity for its stated target of 25 GW by 2025. The joint lead managers to the issuance were Axis Bank, Barclays, BNP Paribas, DBS Bank Ltd, Emirates NBD Capital, IMI-Intesa Sanpaolo, MUFG, Mizuho Securities, SMBC Nikko and Standard Chartered Bank.