Adani Green Energy Refinances USD 1.06 Bn Maiden Construction Facility with Long-Term Financing
The long-term financing raised to refinance its construction facility has a door-to-door tenor of 19 years with a fully amortised debt structure emulating the underlying asset life,” the release said.
Adani Green Energy Refinances USD 1.06 Bn Maiden Construction Facility with Long-Term Financing
In a regulatory filing on Monday, Adani Green Energy stated that it had refinanced its first construction facility, which had an outstanding debt of USD 1.06 billion with long-term financing.
This is the first major fund raised by the Adani Group since the US Department of Justice (DOJ) indicted its top executives, including Chairman Gautam Adani. “AGEL has successfully refinanced its maiden construction facility with an outstanding amount of $1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan.
The long-term financing raised to refinance its construction facility has a door-to-door tenor of 19 years with a fully amortised debt structure emulating the underlying asset life,” the release said.
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Adani Green Energy has successfully concluded its capital management program for the underlying asset portfolio, securing long-term funding that aligns perfectly with the portfolio’s cash flow lifecycle, the company said in a statement.
“The framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration,” the company said. Adani Green did not specify if it raised the amount via loan or dollar bonds for the project.
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