By Angela McDaniels
Tacoma, Wash., July 26 – Adani Transmission Ltd. priced Rs. 5 billion of 9.1% senior secured notes due 2021 payable in dollars, according to a letter written to BSE Ltd. and National Stock Exchange of India Ltd.
Credit Suisse AG, Singapore Branch will purchase the masala bonds (provisional Baa3//) and then sell them through a private placement offer to investors outside India and the United States.
The company also announced plans to price 10-year dollar-denominated fixed-rate senior secured notes (Baa3/BBB-/BBB-).
Adani Transmission is an electric power transmission company based in Ahmedabad, India.
| Issuer: | Adani Transmission Ltd.
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| Issue: | Senior secured notes payable in dollars
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| Amount: | Rs. 5 billion
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| Maturity: | 2021
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| Coupon: | 9.1%
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| Underwriter: | Credit Suisse AG, Singapore Branch
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| Announcement date: | July 26
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| Provisional rating: | Moody’s: Baa3
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