|
Adani Green Energy (AGEL) has completed the funding for the USD 750 million 4.375 notes due 09 September 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of Rs 9,350 crore (USD 1,125 million) to the promoters of AGEL.
The shareholders of AGEL, approved the preferential allotment with overwhelming 99.9% majority on 18 January 2024 and thereafter the promoters funded Rs 2,338 crore (USD 281 million) primary infusion into AGEL last week.
AGEL has set aside the funds in the Senior Debt Redemption Account (SDRA) and other reserve accounts of the Holdco Notes, post which the funding of the reserves has been completed.
Funding summary detailed below:
TotalEnergies JV Proceeds - USD 300 mn (funded in SDRA on 03 January 2024)
Promoter Preferential Allotment - USD 281 mn (funded in SDRA on 25 January 2024)
Debt Service Reserve Account, Hedge Reserves and Interest on Reserve Account - USD 169 mn (accumulated balance in reserve account).
|