Adani Green Energy Ltd. is seeking to raise as much as $1 billion via an offshore dollar loan, according to multiple reports citing people familiar with the matter. The company is in early discussions with lenders and advisors, and the borrowing would be its first overseas financing after it emerges from legal troubles in the United States. Sources say the loan could be structured as a five-year facility and raised in as many as two tranches over the next three months, with pricing expected to be based on or linked to the benchmark Secured Overnight Financing Rate (SOFR). The funds would be used for general corporate purposes, including capital expenditure, though the talks are described as preliminary and final terms may change.
The timing is linked to a recent settlement in the US. Reports note that Adani Green’s founder Gautam Adani and his nephew Sagar agreed to pay $18 million to resolve US Securities and Exchange Commission allegations involving false and misleading representations. The settlement is described as removing a key overhang that had previously constrained overseas fundraising, following US prosecutors’ earlier actions related to alleged bribery.
