+
Adani Transmission plans to raise $1.15 bn to finance projects
POWER & RENEWABLE ENERGY

Adani Transmission plans to raise $1.15 bn to finance projects

Power transmission major Adani Transmission Ltd plans to raise $1.15 billion through offshore loans to fund at least four projects in Gujarat and Maharashtra to support the economy amid the second wave of Covid-19.

Sources told the media that the four banks, including Standard Chartered, Mitsubishi UFJ Financial Group (MUFG), Barclays bank Ltd, and JPMorgan Chase and Corporation, are expected to syndicate the proposed loans.

Further, they added that the company is working on a dedicated structure through which the total sum will be raised for those four projects.

The four projects include the Western Region Strengthening Scheme (WRSS), Lakadia Banaskantha Transco (LBTL), Kharghar Vikhroli Transmission (KVTL), and the Mumbai High Voltage Direct Current (HVDC) project.

Total project value is about $1.55 billion, with the HVDC project constituting approximately one-third of that. The loan could primarily be for five years and valued after adding a spread, or mark-up, to the London Interbank Offered Rate (LIBOR).

The spread will be finalised after factoring in project execution and refinancing risks of the lenders, who are cautious regarding the economic value of Covid-19.

A senior executive said that the proceeds will fund the first three projects fully and the fourth project partially. The Ahmedabad-based company is, though, expected to refinance the loan after 12-15 months by long-term overseas bonds.

Adani Transmission will initially raise about $700 million from a group of foreign lenders, who will later extend another $450 million credit line to HVDC, which has a deadline of January 2025.

The second leg of the credit line may happen at the time of refinancing the following year, for which a deal is being finalised presently. One-fourth of the entire project value will be infused through equity by Adani’s promoters.

In the past year, Adani Transmission shares have risen around six times on the Bombay Stock Exchange (BSE).

Image Source


Also read: PowerGrid hands over nine ICU ventilators to the tune of Rs 1.14 cr

Also read: Ramco Cements sets up medical oxygen plant in Tamil Nadu

Power transmission major Adani Transmission Ltd plans to raise $1.15 billion through offshore loans to fund at least four projects in Gujarat and Maharashtra to support the economy amid the second wave of Covid-19. Sources told the media that the four banks, including Standard Chartered, Mitsubishi UFJ Financial Group (MUFG), Barclays bank Ltd, and JPMorgan Chase and Corporation, are expected to syndicate the proposed loans. Further, they added that the company is working on a dedicated structure through which the total sum will be raised for those four projects. The four projects include the Western Region Strengthening Scheme (WRSS), Lakadia Banaskantha Transco (LBTL), Kharghar Vikhroli Transmission (KVTL), and the Mumbai High Voltage Direct Current (HVDC) project. Total project value is about $1.55 billion, with the HVDC project constituting approximately one-third of that. The loan could primarily be for five years and valued after adding a spread, or mark-up, to the London Interbank Offered Rate (LIBOR). The spread will be finalised after factoring in project execution and refinancing risks of the lenders, who are cautious regarding the economic value of Covid-19. A senior executive said that the proceeds will fund the first three projects fully and the fourth project partially. The Ahmedabad-based company is, though, expected to refinance the loan after 12-15 months by long-term overseas bonds. Adani Transmission will initially raise about $700 million from a group of foreign lenders, who will later extend another $450 million credit line to HVDC, which has a deadline of January 2025. The second leg of the credit line may happen at the time of refinancing the following year, for which a deal is being finalised presently. One-fourth of the entire project value will be infused through equity by Adani’s promoters. In the past year, Adani Transmission shares have risen around six times on the Bombay Stock Exchange (BSE). Image Source Also read: PowerGrid hands over nine ICU ventilators to the tune of Rs 1.14 cr Also read: Ramco Cements sets up medical oxygen plant in Tamil Nadu

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?