Adani Green Energy, the renewable power arm of Gautam Adani-controlled Adani Enterprises, is planning to raise ₹3,500-5,000 crore by selling dollar bonds, as it plans to refinance its debt and expand its business.
The company is now seeking international rating before it kicks off its overseas roadshows — likely within a few weeks — to draw investors. The bond-sale could be rated in the high-yield category with BB+, or BB grade.
The dollar-denominated securities would be raised under Regulation S programme, which is available to global investors outside the US. The company, which was listed on the stock exchanges two weeks ago, has appointed some investment bankers, including Barclays, MUFG, and Citi.
Reference- economictimes, indiapowertrading, solarassociation.org