Adani Green's Subsidiaries Set to Issue Dollar Bonds, Say Bankers
ECONOMY & POLICY

Adani Green's Subsidiaries Set to Issue Dollar Bonds, Say Bankers

Four subsidiaries of Adani Green Energy, based in India, are planning to raise funds through U.S. dollar-denominated bonds, as indicated by two merchant bankers on Tuesday. The bonds will have a maturity period of 20 years, according to the bankers. The subsidiaries involved are Adani Hybrid Energy Jaisalmer One, Adani Hybrid Energy Jaisalmer Two, Adani Hybrid Energy Jaisalmer Four, and Adani Solar Energy Jaisalmer One, with plans to collectively raise between $500 million and $1 billion.

One banker, who preferred to remain anonymous due to restrictions on media communication, mentioned that the companies might enter the market before the end of the month, pending an assessment of investor interest during upcoming roadshows. Adani Green has not responded to requests for comment from Reuters.

The issuers have appointed various banks, including DBS Bank, Emirates NBD Bank, First Abu Dhabi Bank, Mizuho Securities (Singapore), MUFG Securities Asia's Singapore branch, SMBC Nikko Securities (Hong Kong), Societe Generale, and the State Bank of India's London branch, as joint bookrunners. These banks will coordinate a series of investor meetings across Asia, the Middle East, Europe, the U.K., and the U.S.

The bonds are rated BBB- (EXP) by Fitch and Baa3 by Moody's. The proceeds from this bond issuance are intended to refinance the subsidiaries' existing dollar-denominated construction loans. Fitch noted that the proposed notes would feature security and protective structures akin to those of the group's current restricted notes, with each of the four special purpose vehicles (SPVs) participating in the issuance.

Four subsidiaries of Adani Green Energy, based in India, are planning to raise funds through U.S. dollar-denominated bonds, as indicated by two merchant bankers on Tuesday. The bonds will have a maturity period of 20 years, according to the bankers. The subsidiaries involved are Adani Hybrid Energy Jaisalmer One, Adani Hybrid Energy Jaisalmer Two, Adani Hybrid Energy Jaisalmer Four, and Adani Solar Energy Jaisalmer One, with plans to collectively raise between $500 million and $1 billion. One banker, who preferred to remain anonymous due to restrictions on media communication, mentioned that the companies might enter the market before the end of the month, pending an assessment of investor interest during upcoming roadshows. Adani Green has not responded to requests for comment from Reuters. The issuers have appointed various banks, including DBS Bank, Emirates NBD Bank, First Abu Dhabi Bank, Mizuho Securities (Singapore), MUFG Securities Asia's Singapore branch, SMBC Nikko Securities (Hong Kong), Societe Generale, and the State Bank of India's London branch, as joint bookrunners. These banks will coordinate a series of investor meetings across Asia, the Middle East, Europe, the U.K., and the U.S. The bonds are rated BBB- (EXP) by Fitch and Baa3 by Moody's. The proceeds from this bond issuance are intended to refinance the subsidiaries' existing dollar-denominated construction loans. Fitch noted that the proposed notes would feature security and protective structures akin to those of the group's current restricted notes, with each of the four special purpose vehicles (SPVs) participating in the issuance.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code