Adani Green to Repay $750 Million in Bonds

4 Sep 2024 , 10:50 AM

The renewables division of the ports-to-power giant Adani Enterprises Limited (AEL), Adani Green Energy Limited (AGEL), recently declared that it would redeem $750 million in notes (known as Holdco Notes) that were due on September 9. The notes will be redeemed by the corporation approximately eight months before they maturity.

“The company will pay $169 million from its internal accruals and company’s own reserves whereas $300 million are under consideration from joint venture with TotalEnergies Renewables recently,” AGEL stated in statement.

By the end of January 2024, AGEL is scheduled to have received $281 million, or around Rs 2,338 crores, from the Promoter Preferential Allotment’s initial tranche. The cash would be put into the Senior Debt Redemption Account (SDRA) of Holdco notes.

Eight months before the $750 million Holdco Notes’ maturity date, the whole amount of the notes is fully secured,” the business stated in a statement.

For feedback and suggestions, write to us at [e-mail]