India's Adani Green units plan to raise up to $1 billion in dollar bonds, bankers say
Adani Green Energy plan to raise up to $1 billion by issuing U.S. dollar-denominated bonds, two merchant bankers involved in the deal said on Tuesday.
The companies will issue bonds with a maturity of 20 years in one or more tranches starting this month, the bankers said, speaking on condition of anonymity as they are not authorised to speak to the media.
«The companies may tap the market before the end of this month, once it judges the pulse of investors in upcoming roadshows,» one of the bankers said.
Adani Green Energy did not immediately respond to a Reuters request for comment.
The Adani Group returned to the dollar bond market earlier in 2024, about a year after it was accused by short-seller Hindenburg Research in January 2023 of improper use of offshore tax havens and stock manipulation that sparked a $150 billion rout in shares of the group's companies.
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