<p>Three arms of Adani Green Energy Ltd (AGEL) have collectively raised Rs 612.3 crore through their maiden domestic bond issue on private placement basis for debt refinancing.</p>.<p>According to a company statement, rated, listed, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh each, in multiple series, have an average annualised coupon rate of 7.83 per cent per annum (fixed) and a tenure up to 12 years. It said the proceeds from the NCDs (bonds) will be utilised to part-refinance existing rupee term loan bearing higher interest costs.</p>.<p>"Three subsidiaries of AGEL – Adani Green Energy (UP) Ltd, Prayatna Developers Pvt Ltd and Parampujya Solar Energy Pvt Ltd, collectively housing 930 MW of operational solar power projects – have raised Rs 612.30 crore by their maiden domestic bond issuance, on private placement basis," the statement said.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/union-budget/union-budget-2022-this-policy-change-offers-big-boost-for-ambani-adani-1077243.html" target="_blank">Union Budget 2022: This policy change offers big boost for Ambani, Adani</a></strong></p>.<p>The NCDs are rated AA/Stable by CRISIL and AA(CE)/Stable by India Ratings. The NCDs will be listed on the Wholesale Debt market segment of BSE.</p>.<p>"Optimisation of the cost of borrowing is key to our capital management programme and this transaction reinforces the company’s strategy," said Vneet S Jaain, MD & CEO of AGEL.</p>.<p>"We are encouraged by the robust support from the finance community, which recognises the strength of the company’s business model and our capital management approach. We could manage this fund-raising at favourable terms. This puts the company on a more solid platform for long-term growth."</p>.<p>The success of the domestic debt market issue will open up a new source of funding, allowing for more flexibility in capital structure while also lowering interest costs. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Three arms of Adani Green Energy Ltd (AGEL) have collectively raised Rs 612.3 crore through their maiden domestic bond issue on private placement basis for debt refinancing.</p>.<p>According to a company statement, rated, listed, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh each, in multiple series, have an average annualised coupon rate of 7.83 per cent per annum (fixed) and a tenure up to 12 years. It said the proceeds from the NCDs (bonds) will be utilised to part-refinance existing rupee term loan bearing higher interest costs.</p>.<p>"Three subsidiaries of AGEL – Adani Green Energy (UP) Ltd, Prayatna Developers Pvt Ltd and Parampujya Solar Energy Pvt Ltd, collectively housing 930 MW of operational solar power projects – have raised Rs 612.30 crore by their maiden domestic bond issuance, on private placement basis," the statement said.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/union-budget/union-budget-2022-this-policy-change-offers-big-boost-for-ambani-adani-1077243.html" target="_blank">Union Budget 2022: This policy change offers big boost for Ambani, Adani</a></strong></p>.<p>The NCDs are rated AA/Stable by CRISIL and AA(CE)/Stable by India Ratings. The NCDs will be listed on the Wholesale Debt market segment of BSE.</p>.<p>"Optimisation of the cost of borrowing is key to our capital management programme and this transaction reinforces the company’s strategy," said Vneet S Jaain, MD & CEO of AGEL.</p>.<p>"We are encouraged by the robust support from the finance community, which recognises the strength of the company’s business model and our capital management approach. We could manage this fund-raising at favourable terms. This puts the company on a more solid platform for long-term growth."</p>.<p>The success of the domestic debt market issue will open up a new source of funding, allowing for more flexibility in capital structure while also lowering interest costs. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>