Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, on Tuesday said it raised USD 310 million in foreign currency debt. “This USD denominated notes are raised by six wholly owned subsidiaries of ATL amounting to USD 310 million,” the company said in a statement. The USD notes carries fixed coupon over the tenor of notes, it said without giving details. “These instruments have an amortising structure matching the concession period and revenue profile of the issuer companies.”
“This is the first time that an Indian company has circled up transaction for its proposed US private placement in over a decade. From transmission business, this is first of its kind transaction,” the company said. ATL said the proceeds will be used to cater to the growing demands for power by expanding network especially in the deficit parts of the country.
