Adani Green Energy plans $2-b fundraise via International bonds, loans
Adani Green Energy, India's largest private sector renewable power company, is looking to raise around $2 billion in the next few months in multiple tranches through international bonds and loans, according to people close to the development.
The company will hit the bond market in the next few days with a $600 million issue, the people said. It had called off a $1.2-billion bond issue last month as investors demanded a higher yield due to geo-political issues then. It had last time given a price guidance for a fixed coupon rate of 7% for the 20-year bond.
The pricing this time around is likely to be much higher, the people said. Yield on the 10-year US Treasury has been moving up in recent weeks, hitting its highest level since May 31.
The issue is seeing enough demand from long-only investors, the people said
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