Adani Green Energy arms to issue bonds worth $362.5 million

Adani Green Energy on Friday said its arms have approved issuance of bonds worth $362.5 million (over Rs 2,500 crore).

The notes will be listed on Singapore Exchange Securities Trading Limited (SGX- ST), the company said in a BSE filing.

"The respective board of directors of Adani Renewable Energy (RJ) Ltd (ARERJL), Wardha Solar (Maharashtra) Private Ltd (WSMPL) and Kodangal Solar Parks Private Ltd (KSPPL and collectively with ARERJL and WSMPL the issuers), being wholly owned subsidiaries of Adani Green Energy, directly or indirectly, have approved the issuance of USD-denominated Rule 144A / Reg S 20-years senior secured green bonds (Notes) aggregating to USD 362.5 million," it said.

The proceeds from the issue will be use to repay the companies' respective foreign currency loans, rupee borrowing and capital expenditure, other project related liabilities or for general corporate purposes.