Adani Transmission announces private placement of USD Notes

Our Bureau Updated - July 06, 2020 at 11:43 AM.

File photo: Adani Transmission dollar bonds due in 2026 hit a record low of about 75 cents on the dollar earlier this month. They were seen at around 84 cents on Tuesday.

Adani Transmission Ltd (ATL) has announced its private placement of US Dollar notes amounting to $310 million.

This USD denominated notes will be raised by six wholly-owned subsidiaries of ATL, the company said in a filing to the exchanges. With this recent placement round, ATL has a 10 year, 17 year and 10 year coupon paper in the market. “The funds will enable us to expand our network in the transmission and distribution sector and in addition also scale up the electrification infrastructure," said Anil Sardana, MD & CEO, Adani Transmission.

Barclays and Bank of America acted as the financial advisors.

Published on February 4, 2020 14:10