Adani Electricity likely to have priced 10-year dollar bonds to raise billion dollars

Adani Electricity Mumbai (AEML) is likely to have priced its 10-year dollar bonds on Wednesday with the final price target on the bonds coming in at 230 bps over the corresponding US Treasury yield, according to information provided by sources till the time of going to press.

The bonds had received an initial price target of 270 basis points over the 10-year US Treasury yield. “The firm was looking to raise close to a billion dollars. The issue received significant response,” said a source aware of the matter.