Adani Green Energy to issue USD 362.50 million Green Bonds

Adani Green Energy announced that Adani Renewable Energy (RJ) ("ARERJL"), Wardha Solar (Maharashtra) ("WSMPL") and Kodangal Solar Parks ("KSPPL" and collectively with ARERJL and WSMPL the "Issuers"), being wholly owned subsidiaries of Adani Green Energy (the "Company"), directly or indirectly, have approved the issuance of USD-denominated Rule 144A / Reg S 20-years senior secured green bonds (the "Notes") aggregating to USD 362,500,000 (the "Issue"), Further, the pricing, tenure and other terms of the Notes have also been approved.

The Notes will be listed on the Singapore Exchange Securities Trading.

The Notes will bear interest from (and including) 15 October, 2019 to (but excluding) 15 October, 2039 at the rate of 4,625 per cent per annum, payable semi-annually in arrear on 15 April and 15 October in each year, The first payment will be made on 15 April, 2020 in the amount of USD 8,382,812.50 (representing six months' and one day's interest on the total principal amount of USD 362,500,000).

 

The Issuers intend to use all of the proceeds to repay their respective Foreign Currency Loans, Rupee Borrowing and the balance of the net proceeds for capital expenditure, other project related liabilities or for general corporate purposes, in accordance with guidelines prescribed by the Reserve Bank of India.

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