Adani Transmission says financing deals to bring down interest costs
Mumbai: Adani TransmissionNSE -1.49 % has concluded a ‘capital management programme’ for over $2 billion that will lower the cost of funds and improve free cash flows, Anil Sardana, chief executive officer, said on Thursday.
The entire exercise, which includes a deal with the Qatar Investment Authority and a $1 billion bond issue, would cut interest charges by 100-150 bps, adding around Rs 100 crore to free cash flows. Company’s total debt at the end of December was Rs 18,000 crore. It plans to invest Rs 4,500 crore on capital expenditure over the next ‘couple of years’, the CEO said.
