Adani Green Energy on Monday informed the stock exchanges it had a cash-backed redemption plan ready for its $750 million Holdco bond, which is due in eight months from now, in September.
The company said the redemption plan included $169 million in reserve accounts and internal accruals, $300 million from the 1,050 megawatt joint venture transaction closed with TotalEnergies in December, and $281 million as proceeds from an initial tranche of a promoter preferential allotment, announced last month.
The proceeds from the preferential allotment are expected by the end of the month and will be deposited in the Senior Debt Redemption Account (SDRA) of Holdco Notes, the company said.
