<p>Adani Green Energy Ltd (AGEL) on Thursday said it has raised $750 million (around Rs 5,483 crore) through green bonds.</p>.<p>"AGEL... has priced its maiden ListCo senior issuance of $750 million through a 3-year issuance under the 144A / Reg S format, at a fixed coupon of 4.375 per cent," a company statement said.</p>.<p>The issuance was oversubscribed by 4.7x.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/business-news/mm-to-cut-production-by-25-on-semiconductor-shortage-1026178.html" target="_blank">M&M to cut production by 25% on semiconductor shortage </a></strong></p>.<p>The funds shall be utilised towards equity funding of the capex for renewable projects under construction by AGEL.</p>.<p>Under the structure, AGEL can draw up to $1,700 million (including the present issuance) over the course of time subject to the covenants of the structure, it said.</p>.<p>The notes were rated Ba3 (Stable) by Moody's, it stated.</p>.<p>Earlier, AGEL had completed the tie-up of a $1.35 billion revolving construction framework arrangement for senior debt funding of construction stage projects.</p>.<p>With this $750 million ListCo issuance, AGEL has completed the final phase of its capital management plan, and now has a fully funded programme for both debt and equity for its stated target of 25 GW by 2025, it added.</p>.<p>“This ListCo Senior Green Bond issuance is yet another landmark transaction for AGEL and fully funds our pipeline of projects and reinforces our commitment towards being a sustainability focused global infrastructure platform.</p>.<p>"We expect to further accelerate our footprint and are firmly on track to become the world’s largest renewable energy company by 2030," said Vneet S Jaain, MD and CEO, AGEL.</p>.<p>The joint lead managers to the issuance were Axis Bank, Barclays, BNP Paribas, DBS Bank Ltd, Emirates NBD Capital, IMI-Intesa Sanpaolo, MUFG, Mizuho Securities, SMBC Nikko and Standard Chartered Bank.</p>.<p>AGEL, a part of Adani Group, has one of the largest global renewable portfolios with locked-in growth of up to 19.8 GW including operating, under-construction, awarded, and assets under acquisition catering to investment-grade counterparties.</p>.<p>Key customers of AGEL include Solar Energy Corporation of India (SECI), NTPC and various state discoms.</p>
<p>Adani Green Energy Ltd (AGEL) on Thursday said it has raised $750 million (around Rs 5,483 crore) through green bonds.</p>.<p>"AGEL... has priced its maiden ListCo senior issuance of $750 million through a 3-year issuance under the 144A / Reg S format, at a fixed coupon of 4.375 per cent," a company statement said.</p>.<p>The issuance was oversubscribed by 4.7x.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/business-news/mm-to-cut-production-by-25-on-semiconductor-shortage-1026178.html" target="_blank">M&M to cut production by 25% on semiconductor shortage </a></strong></p>.<p>The funds shall be utilised towards equity funding of the capex for renewable projects under construction by AGEL.</p>.<p>Under the structure, AGEL can draw up to $1,700 million (including the present issuance) over the course of time subject to the covenants of the structure, it said.</p>.<p>The notes were rated Ba3 (Stable) by Moody's, it stated.</p>.<p>Earlier, AGEL had completed the tie-up of a $1.35 billion revolving construction framework arrangement for senior debt funding of construction stage projects.</p>.<p>With this $750 million ListCo issuance, AGEL has completed the final phase of its capital management plan, and now has a fully funded programme for both debt and equity for its stated target of 25 GW by 2025, it added.</p>.<p>“This ListCo Senior Green Bond issuance is yet another landmark transaction for AGEL and fully funds our pipeline of projects and reinforces our commitment towards being a sustainability focused global infrastructure platform.</p>.<p>"We expect to further accelerate our footprint and are firmly on track to become the world’s largest renewable energy company by 2030," said Vneet S Jaain, MD and CEO, AGEL.</p>.<p>The joint lead managers to the issuance were Axis Bank, Barclays, BNP Paribas, DBS Bank Ltd, Emirates NBD Capital, IMI-Intesa Sanpaolo, MUFG, Mizuho Securities, SMBC Nikko and Standard Chartered Bank.</p>.<p>AGEL, a part of Adani Group, has one of the largest global renewable portfolios with locked-in growth of up to 19.8 GW including operating, under-construction, awarded, and assets under acquisition catering to investment-grade counterparties.</p>.<p>Key customers of AGEL include Solar Energy Corporation of India (SECI), NTPC and various state discoms.</p>