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Business News/ Markets / Stock Markets/  Adani Green to raise $410 million to refinance 2024 Dollar Bond
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Adani Green to raise $410 million to refinance 2024 Dollar Bond

Adani Green Energy Ltd. plans to raise about $410 million via new bond issuance to refinance a dollar note maturing in a roughly year’s time, according to a filing to Singapore’s stock exchange.

Adani Green plans to raise about $410 million via new bond issuance (Photo: Reuters)Premium
Adani Green plans to raise about $410 million via new bond issuance (Photo: Reuters)

Adani Green Energy Ltd. plans to raise about $410 million via new bond issuance to refinance a dollar note maturing in a roughly year’s time, according to a filing to Singapore’s stock exchange. 

The refinancing plan for Adani Green’s $500 million Dec. 10, 2024 bond, dated Dec. 8, fulfills a requirement laid out in the terms of the note. 

The filing marks the second of its kind in recent days by Adani Group’s solar-energy unit to unveil plans to refinance maturing dollar debt, following another blueprint for repaying a $750 million bond due next September. The finances of billionaire Gautam Adani’s empire have attracted investor attention after US short seller Hindenburg Research accused the conglomerate of corporate fraud earlier this year, allegations that the group has repeatedly denied.

Adani executives have taken a variety of steps to reassure investors in the wake of Hindenburg’s January broadside, including prepaying debt and buying back bonds. Just last week, Adani Green raised a $1.4 billion loan for a renewable energy project, fueling a stock rally in the conglomerate’s units that boosted their collective market value by $23 billion.

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Published: 11 Dec 2023, 02:41 PM IST
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