Adani Defers $1.2 Billion Green Bond Amid US Election Uncertainty

Gautam Adani's conglomerate has postponed a $1.2 billion bond issuance due to market volatility linked to the US elections. Adani Green Energy aimed to issue a 20-year green note but deferred the offering for optimal pricing and outcomes. Proceeds were intended for foreign-currency loan repayments.

Gautam Adani's corporate group has decided to postpone a USD 1.2 billion bond offering, attributing the delay to the unfavorable market conditions stemming from uncertainties surrounding the US elections, sources revealed.

Initially scheduled by Adani Green Energy Ltd, the conglomerate's clean-energy arm, for a 20-year green note issuance, the offering was deferred at the last minute to aim for more favorable conditions and outcomes.

Sources informed that the launch of IG-rated Hybrid RG notes was reconsidered to achieve tighter pricing, opting for possibly better markets post-elections or early January 2025. The bond proceeds were planned for repaying foreign-currency loans.

(With inputs from agencies.)