(Bloomberg) -- Indian billionaire Gautam Adani’s conglomerate is looking to revive a dollar bond deal from its green energy business, after postponing such an offering last month.
Units of Adani Green Energy Ltd. may sell a 20-year bond in the US currency, according to a person with knowledge of the matter. The company is seeking to raise around $600 million through the issuance, according to a separate person familiar with the deal.
The units plan to start a series of investor calls from Monday, Adani Green said in a stock-exchange statement.
The Indian conglomerate is returning to the market with a broadly similar deal structure after yields on US dollar notes climbed following the election of President-elect Donald Trump and greater uncertainty about the pace of rate cuts by the Federal Reserve. Adani delayed its marketed note offering in mid-October after some investors demanded a higher yield due to volatility in US rates.
The group had reached what’s called “final price guidance” on an offering last month for a 20-year note, with the bond set to yield 7%, but decided not to proceed with the sale.
The yield on Adani Green’s 2042 note has climbed to 7.2% from just under 7% in mid-October, according to data compiled by Bloomberg.
Read also: Adani Delays Dollar Bond Sale as Investors Push Back on Deal
--With assistance from P R Sanjai.
(Updates throughout)
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