Adani Green's USD 362-mn bonds issue gets global interest
Billionare Gautam Adani's renewable energy firm Adani Green's USD 362.5 million (about Rs 2,570 crore)bonds issue attracted interest of investors worldwide, the company said on Monday.
This was the first ever deal from India to use an amortizing project finance type structure, giving foreign investors a chance to buy investment-grade bonds from India's renewable energy sector.
"The Adani Group's aggressive moves in the dollar bond market have led to amplified interest for foreign investors in the Indian renewable energy space," a company statement said, adding that the bond had a door-to-door maturity of 20 years, and a weighted average life of 13.47 years.
US accounts picked up 24 per cent of the bonds, alongside 60 per cent allocation to Asia and 16 per cent to EMEA.
"Adani Group's moves in the dollar bond market displays one of the Indian companies that has successfully tapped the offshore bond market in the year of 2019," it said.
Adani Green's bond structure met the stringent ...