NEW DELHI: Adani Green Energy Ltd (AGEL) on Monday said it has completed the funding for redemption of its USD 750 million bonds, eight months ahead of their maturity.
The Adani Group company had raised USD 750 million through the issuance of NCDs (non-convertible debentures) which will mature in September this year.
On January 8, AGEL had announced a plan to ensure early redemption of its USD 750 million bonds.
In a statement on Monday, AGEL said it has “completed the funding for the USD 750 million 4.375 notes due September 9, 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of Rs 9,350 crore (USD 1,125 million) to the promoters.”
Sharing a break-up, AGEL said USD 169 million has been put through the reserve accounts and internal accruals, while another USD 300 million has recently been invested by TotalEnergies through a joint venture.
The remaining USD 281 million has been secured through promoter preferential allotment.
AGEL, which is India’s largest and world’s leading renewable energy solutions company, develops, owns, and operates utility-scale grid-connected solar, wind and hybrid renewable power plants.
It currently has an operating renewable portfolio of 8.4 GW, spread across 12 states, offsetting over 41 million tonnes of CO2 emissions cumulatively.
With inputs from PTI.
The post Adani Green Energy Completes Funding For $750 Million Bonds Ahead Of Maturity first appeared on Latest India news, analysis and reports on IPA Newspack.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
