Adani Green Successfully Secures Funding for $750 Million Notes Maturing in September

Adani Green Energy has successfully concluded the funding for $750 million worth of notes maturing on September 9, 2024, known as Holdco Notes. The funds were received through a preferential allotment of ₹9,350 crore ($1.125 billion) to the company's promoters.

This comprehensive funding package comprises various components, including a $300 million contribution from TotalEnergies as part of a joint venture infusion. Additionally, $281 million was raised through a preferential allotment to the promoters, while the remaining $169 million has been allocated to a debt service reserve account and hedge reserves.

Adani Green Energy ensures the full commitment to bond redemptions by securing the respective amounts in dedicated accounts through term fixed deposits. These funds are earmarked exclusively for the redemption of the Holdco Notes, reinforcing financial stability.

The preferential allotment, approved by Adani Green's shareholders on January 18, 2024, saw the infusion of $281 million by the promoters into the company the following week. This strategic financial move reflects the company's commitment to meeting its financial obligations and ensuring a robust financial position.

HBL