Adani Green completes funding of reserves for $750 million Holdco Bond
Adani Green Energy Limited (AGEL) , the renewable energy arm of Adani Group, on Monday announced that it has completed the funding for $750 million 4.375 notes due 09 September 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of Rs 9,350 crore ($1,125 million) to the promoters of AGEL.
The shareholders of AGEL, approved the preferential allotment with overwhelming 99.9 per cent majority on 18 January 2024 and thereafter the promoters funded Rs 2,338 crore ($281 million) primary infusion into AGEL last week. AGEL has set aside the funds in the Senior Debt Redemption Account (SDRA) and other reserve accounts of the Holdco Notes,
