What is Adani Power's upcoming bond issue?

Adani Power is launching its largest-ever rupee bond sale, aiming to raise 75 billion rupees (approximately $820 million).

Which entity is anchoring Adani Power's bond issue?

State Bank of India's mutual fund unit is anchoring the bond issue with a commitment of 7.50 billion rupees.

What are the interest rates on Adani Power's new bonds?

The bonds offer coupons ranging from 8.00% to 8.40% depending on the maturity, which spans two to five years.

Home / Business and Economy / Adani Power Bonds: SBI MF Anchors $820M Issue

Adani Power Bonds: SBI MF Anchors $820M Issue

21 Jan

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Summary

SBI Mutual Fund commits to anchor Adani Power's $820 million bond issue.
The bond sale aims to raise 75 billion rupees, the group's largest ever.
Adani Power offers coupons ranging from 8.00% to 8.40% on its bonds.

Adani Power Bonds: SBI MF Anchors $820M Issue

State Bank of India's mutual fund unit has committed to investing at least 10% in Adani Power's upcoming 75 billion rupee bond issue. This landmark issuance, anticipated to launch this week, represents the Adani Group's largest ever rupee bond sale.

SBI Mutual Fund, India's largest fund house, will act as an anchor investor, contributing 7.50 billion rupees. The bonds will mature in two, three, four, and five years. Adani Power plans to raise 28.60 billion rupees via two-year notes and 26.90 billion rupees via three-year notes.

The two-year bonds will carry a coupon of 8.00%, and three-year notes will offer 8.20%. The four- and five-year papers will yield 8.30% and 8.40%, respectively. The bonds have received an 'AA' rating from Crisil and India Ratings.

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