Adani Green Energy arms raise Rs 612 cr for debt refinancing

Three arms of Adani Green Energy Ltd (AGEL) have collectively raised Rs 612.30 crore through their maiden domestic bond issue on private placement basis for debt refinancing.

According to a company statement, rated, listed, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh each, in multiple series, have an average annualized coupon rate of 7.83 per cent per annum (fixed) and a tenure up to 12 years.

It said the proceeds from the NCDs (bonds) will be utilised to part-refinance existing rupee term loan bearing higher interest cost.