HDFC arranges Rs 532 crore for Adani Group SPV
ADVERTISEMENT The lender is making a ₹159.6 crore anchor investment in the ₹532 crore unsecured non-convertible debenture (NCDs) issue of WRSS XXI (A) Transco under Adani Energy Solutions, people in the know said. The debt, rated AAA by Crisil and ICRA, will carry a fixed coupon of 7.70% and mature on March 31, 2043.
WRSS XXI will use the proceeds to refinance costlier external commercial borrowing of ₹740.8 crore, due for repayment in October 2025. The proposed NCDs include a put option at the end of the fifth year and annually thereafter. Lenders also have the right to demand early repayment if the company's credit rating falls below A+.
Apart from this HDFC Bank-arranged fundraising, WRSS XXI raised another ₹100 crore. Darashaw & Co arranged this tranche, carrying a 7.84% coupon and maturing in September 2044.WRSS XXI, or the Western Region Strengthening Scheme XXI, is a transmission project under Adani Energy Solutions. This project was set up to strengthen the transmission system for relieving over-loadings observed on the Gujarat intrastate system due to renewable energy injections in Bhuj. It establishes a transmission system for renewable energy generation at Bhuj-II, Dwarka and Lakadia in Gujarat.
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Time of India
5 hours ago
- Time of India
HDFC arranges Rs 532 crore for Adani Group SPV
Mumbai: HDFC Bank has stepped in as both the arranger and anchor investor for a long-tenor bond issue by a special purpose vehicle of the Adani Group 's transmission subsidiary. The lender is making a ₹159.6 crore anchor investment in the ₹532 crore unsecured non-convertible debenture (NCDs) issue of WRSS XXI (A) Transco under Adani Energy Solutions , people in the know said. The debt, rated AAA by Crisil and ICRA , will carry a fixed coupon of 7.70% and mature on March 31, 2043. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Beautiful Female Athletes Right Now Undo WRSS XXI will use the proceeds to refinance costlier external commercial borrowing of ₹740.8 crore, due for repayment in October 2025. The proposed NCDs include a put option at the end of the fifth year and annually thereafter. Lenders also have the right to demand early repayment if the company's credit rating falls below A+. Apart from this HDFC Bank-arranged fundraising, WRSS XXI raised another ₹100 crore. Darashaw & Co arranged this tranche, carrying a 7.84% coupon and maturing in September 2044. WRSS XXI, or the Western Region Strengthening Scheme XXI, is a transmission project under Adani Energy Solutions. This project was set up to strengthen the transmission system for relieving over-loadings observed on the Gujarat intrastate system due to renewable energy injections in Bhuj. It establishes a transmission system for renewable energy generation at Bhuj-II, Dwarka and Lakadia in Gujarat. Live Events
Economic Times
5 hours ago
- Economic Times
HDFC arranges Rs 532 crore for Adani Group SPV
Mumbai: HDFC Bank has stepped in as both the arranger and anchor investor for a long-tenor bond issue by a special purpose vehicle of the Adani Group's transmission subsidiary. ADVERTISEMENT The lender is making a ₹159.6 crore anchor investment in the ₹532 crore unsecured non-convertible debenture (NCDs) issue of WRSS XXI (A) Transco under Adani Energy Solutions, people in the know said. The debt, rated AAA by Crisil and ICRA, will carry a fixed coupon of 7.70% and mature on March 31, 2043. WRSS XXI will use the proceeds to refinance costlier external commercial borrowing of ₹740.8 crore, due for repayment in October 2025. The proposed NCDs include a put option at the end of the fifth year and annually thereafter. Lenders also have the right to demand early repayment if the company's credit rating falls below A+. Apart from this HDFC Bank-arranged fundraising, WRSS XXI raised another ₹100 crore. Darashaw & Co arranged this tranche, carrying a 7.84% coupon and maturing in September XXI, or the Western Region Strengthening Scheme XXI, is a transmission project under Adani Energy Solutions. This project was set up to strengthen the transmission system for relieving over-loadings observed on the Gujarat intrastate system due to renewable energy injections in Bhuj. It establishes a transmission system for renewable energy generation at Bhuj-II, Dwarka and Lakadia in Gujarat. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
17 hours ago
- Time of India
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