Adani Green Energy (AGEL), the renewable energy arm of Adani group, on Monday announced plans to fully redeem bonds worth $750 million due in September, eight months ahead of their maturity date.
The firm intends to redeem 4.375% holdco (holding company) bond, due on September 9, 2024. Underpinning the repayment is the equity capital raising of $1.425 billion (includes $1.125 billion of preferential issuance by promoters and $300 million from TotalEnergies JV), AGEL said in a regulatory update.
The firm will pay $169 million from reserves and internal accruals (including debt service reserve account, hedge reserves and interest on reserve account) and another $300 million from an earlier announced joint venture with French petroleum major TotalEnergies SE, AGEL said in a regulatory update.
