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Adani Total Gas to raise $750 million through MTN programme

The company’s board will meet on October 28 to consider the above fundraising.

October 26, 2021 10:45 IST | India Infoline News Service
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Adani Total Gas Limited will consider on October 28 a proposal to raise funds via a medium-term note program of as much as $750 million, or its equivalent in any currency, in one or more tranches. The initial issuance will be as much as $300 million.

At around 10.48 am, Adani Total Gas Ltd was trading at Rs1,450.10 per piece up by Rs4.9 or 0.34% from its previous closing of Rs1,445.20 per piece on the BSE.

“The meeting of the Board of Directors of the company scheduled to be held on October 28, 2021, will consider raising funds by way establishing a Medium Term Note Programme (MTN Programme) with a limit of up to USD 750 Million or its equivalent in any currency(ies) with an initial issuance of up to USD 300 Million."

The board will also consider to offer, issue and allot securities under the MTN Programme, including but not limited to bonds, in accordance with prevailing guidelines issued by the Reserve Bank of India (“RBI”) or any other relevant regulator (the “MTN”) in one or more tranches, overseas, to any number of Investors (as defined below) as may be permitted under applicable laws and to list the notes issued under the MTN Programme on any one or more stock exchanges in India or overseas and to issue notes under the MTN, on a private placement basis or otherwise, to any persons, entities, bodies corporate, companies, banks, funds, financial institutions and any other categories of eligible investors permitted to invest in the MTN under applicable laws,” the company said in a filing on Monday.

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