Adani Transmission plans to raise $1 billion via bond sale

Mumbai: Adani Transmission Ltd., a power transmission unit of billionaire Gautam Adani plans has lined up about $1 billion bond sale likely to be launched in the first month of next fiscal as it plans to reduce its cost of borrowing, said people familiar with the plan.

The bond float that was initially planned before March is getting pushed behind as investors in the region are dislocated with the travel warnings by governments following the spread of Coronavirus, said those people who did not want to be identified. The proposed bonds will likely have maturity between five and 10 years.