Adani’s first bond issue sees massive comeback to international market
India’s Adani group saw massive demand on Monday for its first dollar bond since a short-seller attack last year, in what two banking sources said was being seen internally as a test for the conglomerate’s access to global capital markets.
Adani Green Energy priced a $409 million 18-year bond after receiving nearly $3 billion of demand for it, said the sources, who have direct knowledge of the deal.
Adani Green’s bonds paid a yield of 6.7 per cent, 42.5 basis points cheaper than levels initially proposed when the deal was announced this morning, thanks to strong investor demand.
