[
In January, Adani Green had set aside funds to redeem the 4.38% Holdco Notes due on September 8, the company said in a statement.
“AGEL’s overall capital management philosophy has remained focused on long-term value creation through asset development and positioned AGEL as a self-propelled growth engine,” the group said in the statement.
Holdco Notes are debt instruments sold by a holding company. They are subordinate to any senior debt issued by the group, meaning they have a lower priority for repayment in case of insolvency.
The group said the bonds were initially issued in September 2021 to support Adani Green Energy’s growth plan over three years. During this period, Adani Green more than tripled its capacity from 3.5 GW to 11.2 GW at an annual average pace of 48%.
In December last year, the company’s promoters had subscribed to a preferential warrant amounting to ₹9,350 crore, of which ₹7,013 crore will be available to meet any additional capital expenditure needs.Shares of Adani Green Energy gained 0.17% to close at ₹1,868.10 on the BSE on Monday.
https://img.etimg.com/thumb/msid-113209554,width-1200,height-630,imgsize-6168,overlay-etmarkets/photo.jpg
https://economictimes.indiatimes.com/markets/bonds/adani-green-energy-repays-750-million-bonds-using-cash/articleshow/113209545.cms