Adani Green Energy is likely to raise $500 million by issuing dollar bonds in March, two officials aware of the plans said, making it the first Adani group company to return to the overseas bond market in a year.
“The company is doing the groundwork and talking to investors to get a sense on pricing,” said a foreign banker, who is a part of the discussions.
“Once there’s more clarity on pricing and demand, they will finalise the details and tap the market,” the banker said.
Part of Indian billionaire Gautam Adani’s ports-to-power conglomerate, Adani Green is likely to use some of the proceeds from the proposed bond issue to refinance existing debt that will mature this year, the officials said.
