Adani Group
In a strategic financial move, the Adani Group is actively negotiating with more than ten leading global banks to raise a substantial $1.5 billion through dollar bond sales, Bloomberg News reported on Thursday. The planned bond issuance will primarily involve Adani Green Energy and Adani Energy Solutions—two pivotal units of the conglomerate specializing in renewable energy and power transmission. Additionally, the bonds will be issued through various special purpose vehicles designed for this specific purpose.
The Adani Group aims to complete this sizable bond sale in multiple stages by the end of February next year. The capital raised from these bond sales is intended to be used for refinancing existing debt, a crucial step in managing the group’s financial obligations and supporting its ongoing projects.
According to Bloomberg’s report, the discussions involve banks from Japan, Europe, and the Middle East, reflecting the international scope of the group’s financing strategy. However, the report did not specify the names of the banks engaged in these negotiations.
The Adani Group, led by billionaire industrialist Gautam Adani, has yet to respond to Reuters’ request for comment regarding this development. This move is part of the group’s broader strategy to strengthen its financial position and support its ambitious growth plans across its diverse portfolio of businesses.
