Three subsidiaries of Adani Green Energy - Adani Green Energy (UP), Prayatna Developers and Parampujya Solar Energy, 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 Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 each, in multiple series, have an average annualizedcoupon rate of 7.83% p.a. (fixed) and a tenure upto ~12 years. The proceeds from the NCDs will be utilised to part-refinance existing rupee term loan bearing higher interest cost.
The NCDs are rated AA/Stable by CRISIL Limited and AA(CE)/Stable by India Ratings. The NCDs will be listed on the Wholesale Debt market segment of BSE.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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