In a significant development, Adani Green Energy Ltd. announced on November 18 that it has reactivated its US dollar bond offering through two of its subsidiaries, Adani Hybrid Energy Jaisalmer and Adani Solar Energy Jaisalmer. The company aims to raise around $2 billion over the next few months through international bonds and loans, according to media outlets. The renewed bond issuance, which proposes a 20-year maturity period for the dollar-denominated notes, is expected to raise approximately $600 million, according to the sources.
The capital raised from this issuance will be allocated toward repaying foreign currency loans taken by the two subsidiaries. This move marks a comeback for Adani Green’s bond market strategy, which had been put on hold a month ago due to concerns raised by potential investors over the pricing structure.
Adani Green Energy has appointed a lineup of prominent financial institutions as joint bookrunners for this bond offering. These include DBS Bank, Emirates NBD Bank, First Abu Dhabi Bank, ING Bank, Intesa Sanpaolo, Mizuho Securities, MUFG Securities, SMBC Nikko Securities, and SBI’s London branch. Together, these institutions will support the issuance process and facilitate investor engagement.
Starting from today Adani Green is scheduled to conduct a series of investor calls to present the details of the bond offering and respond to queries. These calls are expected to provide potential investors with greater clarity on the terms and structure of the bond issue, as well as insight into Adani Green’s objectives for this capital raise.
In the stock market, Adani Green’s shares declined by approximately 1 percent on November 18, aligning with the broader trend of market weakness. The revival of this bond issuance, however, could potentially impact market sentiment and investor interest in the coming weeks as the offering progresses.
This development underscores Adani Green’s ongoing efforts to optimize its financial structure and fund the growth of its renewable energy ventures, reflecting the group’s resilience in responding to dynamic market conditions.
