Adani Green: Adani Green redeems US$750 million bonds, company issues statement
New Delhi| Adani Green Energy Limited (AGEL) has completed the process of redeeming its US$750 million bond. The company issued a statement giving this information. AGEL had announced plans in January to quickly redeem its US$750 million bond. These bonds were maturing in September. AGEL is a renewable energy company of industrialist Gautam Adani’s group.
The company reported in the statement that it had encashed 4.375 percent of all outstanding 750 million US dollars in Holdco ‘Notes’ due on September 8, 2024. This financing was completed with the promoters of the company receiving funds under preferential allocation of Rs 9,350 crore ($1.12 billion).
In addition, the promoters of AGEL had agreed to subscribe to preferential warrants amounting to Rs 9,350 crore in December 2023. Of which Rs 7,013 crore (equivalent to US$ 83.5 crore) will be available with the AGEL to be spent on any accelerated capital expenditure requirements. AGEL currently has a renewable energy segment of 11.2 gigawatts. It is the largest in India and is spread across 12 states.
