Adani Green Energy Ltd., part of billionaire Gautam Adanis empire, will redeem the notes in full by its Sept. 8 due date, it said in a filing to Singapores stock exchange. The bonds underwriters will provide a funding letter for $675 million and the company will use equity transaction proceeds to build up the repayment sum, it added.
Adani Green s restricted group 2 includes three entities namely Wardha Solar (Maharashtra), Kodangal Solar Park, and Adani Renewable Energy (RJ)..S&P expects the company s restricted group to help meet repayment obligations due to its strong reserving mechanism.