Adani Green to raise $500 mn via bonds

New Delhi: Adani Green Energy on Friday said the boards of its three subsidiaries have approved the pricing, tenure and other terms for issuing dollar denominated bonds worth $500 million (about Rs 3,490 crore).

According to a BSE filing, the boards of Adani Green Energy (UP), Parampujya Solar Energy Private and Prayatna Developers Private have approved the issuance of "USD-denominated Rule 144A / Reg S 5.5-years senior secured green bonds (Notes) aggregating to $500 million."

"The issuers (three arms) intend to use all of the proceeds to repay their respective external commercial borrowing loans, and the balance of the net proceeds for capital expenditure, other project related liabilities or for on-lending to other subsidiaries of the company, in accordance with guidelines prescribed by RBI," the filing added.

The bonds will be listed on the Singapore Exchange Securities Trading Ltd (SGX- ST) and India International Exchange (iFSC), it said.