Adani Green Energy Limited (AGEL) has raised USD750 million through a green bond to fund its equity needs for under construction renewable energy projects.
The bonds will have a tenor of three years at a coupon of 4.375 per cent. AGEL can draw upto USD1,700 million over the course of time subject to the covenants of the structure. With this issuance, the firm has completed the final phase of its capital management plan, and now has a fully-funded programme for both debt and equity for its stated target of 25 GW by 2025.