(LiveMint)
Adani Group’s renewable energy arm – Adani Green Energy Ltd – on Friday said that it has raised $362.5 million through a dollar bond issuance. The dollar bonds, which have a maturity of 20 years, bear an interest rate of 4.625%, the company said in an exchange filing. The proceeds raised through the bond issuance will be used explicitly for three subsidiaries of Adani Green – Wardha Solar (Maharashtra) Pvt Ltd, Kodangal Solar Park Pvt Ltd and Adani Renewable Energy (RJ) Ltd.
“The Issuers intend to use all of the proceeds to repay their respective foreign currency loans, rupee borrowing and the balance of the net proceeds for capital expenditure, other project related liabilities or for general corporate purposes,” the company said.
