- Adani Green Energy signed a $250 million foreign currency loan with four global banks
- The loan carries an 8.20% interest rate and has a five-year tenure
- Adani Green Energy's operational renewable capacity grew 45% to 15.8 gigawatts
Adani Green Energy has signed an agreement to borrow $250 million from some global lenders in its first foreign currency loan since the row with the US Department of Justice. Many leaders in the US had also criticised the DoJ's move as one that undermined economic collaboration and trust.
The DoJ's indictment of Adani Group Chairman Gautam Adani was a strategic blunder with severe geopolitical consequences, Forbes had said.
In the latest fundraise, four banks - DBS Bank, DZ Bank, Rabobank, and Bank SinoPac - will lend funds to Adani Green Energy to service a debt.
The loan will carry an interest of 8.20 per cent and have a five-year tenor.
Adani Green Energy sales had surged 42 per cent (year-on-year) in the April-June quarter to 10,479 million units, as operational renewable energy (RE) capacity grew 45 per cent to 15.8 gigawatt, which continues to be India's largest.
While revenue growth increased by 31 per cent (on-year) to Rs 3,312 crore, EBITDA also went up by 31 per cent to Rs 3,108 crore.
Adani Green Energy shares rose 5.3 per cent on September 19 after the markets regulator SEBI cleared the conglomerate of allegations made by the now defunct US short-seller Hindenburg Research.
The combined market capitalisation of Adani firms that day increased by Rs 69,000 crore, taking the group's valuation to about Rs 13.96 lakh crore.
The flagship firm Adani Enterprises Ltd is also slated to raise up to $112.6 million through the private placement of two-year and six-month bonds, marking its first such fundraising since 2023.
The company will pay a semi-annual coupon of 8.70 per cent on the issue and has invited commitment bids on Tuesday. The bonds will be placed directly with investors, with large mutual funds seen as likely buyers.
