Press Release9 Sept 2024, 02:00 pm
Adani Green Energy Completes Redemption of $750 Million Holdco Notes
AI Summary
Adani Green Energy Ltd (AGEL) has completed the redemption of all outstanding $750 million 4.375% Holdco Notes due on 8 September 2024. The Holdco Notes, issued in September 2021, supported AGEL’s high-growth objectives and facilitated a three-fold increase in its capacity from 3.5 GW to 11.2 GW over the past three years. AGEL's overall capital management philosophy remains focused on long-term value creation and structured approach to accomplish credit metrics for its underlying debt capital raise program. The company is committed to having capital market issuances tailored for long-term infra asset class supported through predictable and robust cashflow streams to attain long curve emulating underlying asset life.
Key Highlights
- Adani Green Energy Ltd (AGEL) completes redemption of all outstanding $750 million 4.375% Holdco Notes due on 8 September 2024
- Holdco Notes supported AGEL’s high-growth objectives and facilitated a three-fold increase in its capacity from 3.5 GW to 11.2 GW over the past three years
- AGEL's overall capital management philosophy remains focused on long-term value creation and structured approach to accomplish credit metrics for its underlying debt capital raise program
- Company is committed to having capital market issuances tailored for long-term infra asset class supported through predictable and robust cashflow streams
- AGEL's promoters agreed to subscribe to a preferential warrant amounting to INR 9,350 Cr (USD 835 million equivalent) to fund any accelerated capital expenditure requirements