Adani Green Unveils $750M Bond Repayment Plan

8 Dec 2023 , 11:48 AM

Adani Green Energy, part of the Adani Group, outlines its plan to fully repay a $750 million bond due in September, aiming to restore investor confidence post a market downturn earlier this year.

The solar-energy unit discloses in a Singapore stock exchange filing that it will redeem the bond by the due date, with underwriters providing a $675 million funding letter, and an additional $75.47 million in restricted reserves.

Adani Green commits to depositing equity transaction proceeds and distributable surplus to contribute to the repayment amount. However, the filing lacks specifics on the funding letter’s content and the source of equity transaction proceeds.

The terms of the Singapore-listed bond, due on September 8, 2024, mandate Adani Green to present a refinancing plan nine months before maturity, adding a strategic element to the ongoing financial restructuring efforts.

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