AGEL launched the IG-rated Hybrid RG notes on Tuesday but after careful consideration, decided to defer it to post the US elections to achieve a much tighter pricing and overall outcome.
Some uncertain developments in connection with US elections has led to the deferment of the dollar bond issuance.
Adani Green felt it would not be the best outcome from overall pricing standpoint as compared to other options available immediately — onshore bonds, bank financing.
Proceeds from the proposed bond will be used to repay foreign-currency loans.
The launch has got a positive response, but the company decided to defer to better market conditions to achieve tighter pricing.
The company is considering two windows immediately after the US elections or second week of January 2025 after the new year break.
