Adani Green Energy (AGEL) said it has raised $750 million via green bonds through a three-year issuance at a fixed coupon of 4.375 per cent. The issuance was oversubscribed by 4.7 times, said the company in a statement.
“The funds shall be utilised towards equity funding of the capex for underlying renewable projects under construction by AGEL. Under the structure, AGEL can draw up to $1,700 million (including the present issuance) over the course of time subject to the covenants of the structure,” AGEL said.
The notes were rated Ba3 (Stable) by Moody’s.
AGEL earlier in the year completed the