New Issue: India’s Adani prices $500 million 4% notes due 2026 at 260 bps over Treasuries

By Christine Van Dusen

Atlanta, July 29 – Adani Transmission Ltd. printed a $500 million issue of 4% 10-year notes at 99.081 to yield 4.33%, or Treasuries plus 260 basis points, a market source said.

The notes priced tighter than talk, set in the 290 bps area over Treasuries.

Barclays, DBS, Standard Chartered, Emirates, NBD Capital, MUFG, Nomura Securities, Societe Generale and SBI Capital were the bookrunners for the deal.

This issuer is an electric power transmission company based in Ahmedabad, India.

Issuer:	Adani Transmission Ltd.
Amount:	$500 million
Maturity:	Aug. 4, 2026
Description:	Notes
Bookrunners:	Barclays, DBS, Standard Chartered, Emirates, NBD Capital, MUFG, Nomura Securities, Societe Generale, SBI Capital
Coupon:	4%
Price:	99.081
Yield:	4.33%
Spread:	Treasuries plus 260 bps
Trade date:	July 28
Settlement date:	Aug. 4
Price talk:	Treasuries plus 290 bps area

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