By Sarah Lizee
Olympia, Wash., Oct. 4 – Adani Green Energy Ltd. informed the Bombay Stock Exchange that three of its wholly owned subsidiaries approved an issue of $362.5 million of 4 5/8% senior secured green bonds due 2039.
The Rule 144A and Regulation S bonds were approved by the boards of Adani Green Energy (RJ) Ltd., Wardha Solar (Maharashtra) Pte. Ltd. and Kodangal Solar Parks Pte. Ltd.
Proceeds will be used to repay foreign currency loans, and the balance will be used for capital expenditure, other project-related liabilities or for general corporate purposes.
The bonds will be listed on Singapore Exchange Securities Trading Ltd.
Adani is a solar power generation and manufacturing company based in Ahmedabad, India.
| Issuers: | Adani Green Energy (RJ) Ltd., Wardha Solar (Maharashtra) Pte. Ltd. and Kodangal Solar Parks Pte. Ltd.
|
| Issue: | Senior secured green bonds
|
| Amount: | $362.5 million
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| Maturity: | Oct. 15, 2039
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| Coupon: | 4 5/8%
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| Announcement date: | Oct. 4
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| Expected ratings: | Moody’s: Baa3
|
| S&P: BBB-
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
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