Adani Green Energy (NSE:ADANIGREEN, BOM:541450) is in early discussions to raise up to $1 billion through an offshore loan, Bloomberg reported Wednesday, citing people familiar with the matter.
The company is seeking to raise a five-year dollar-denominated facility in two tranches over the next three months. The facility will be priced over the Secured Overnight Financing Rate (SOFR), the people told Bloomberg.
Proceeds from the proposed borrowing are expected to be used for capital expenditure and other general corporate purposes.
The discussions remain at a preliminary stage and terms may change, the report said.
Adani Green Energy did not immediately respond to MT Newswires' request for comment.
Shares of the company fell over 1% in recent trade.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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