AEML to raise $300 million via sale of sustainable bond

Adani Electric Mumbai Limited (AEML) has planned to raise $300 million through the group’s first sustainable bond sales overseas.

These bonds are expected to offer rates within 3.25 per cent to 3.7 per cent and have a ten-year maturity period. These sustainable bonds qualify for global environmental, social governance (EGS) cash pool. Part of the proceeds from the sales are expected to refinance an existing offshore loan through bonds and the remaining will be used to fund projects. The investment bankers assisting the company in raising the loans include Barclays, Citi, Deutsche, JP Morgan and MUFG.

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