Adani Green Energy Limited has generated $750 million through the sale of senior secured notes denominated in US dollars, in line with Regulation S and Rule 144A of the US Securities Act of 1933, as amended, and applicable Indian legislation.
A green bond is a type of debt designed specifically to fund climate and environmental projects. To entice investors, they frequently provide tax benefits such as exemptions and credits.
The bonds were rated Ba3 (stable) by Moody's and have attracted a lot of attention from investors all around the world. These bonds were listed on India INX's GSM Green platform, which is the Exchange's specialised platform for green, social, sustainable, and other ESG-themed bonds. The bonds have a three-year maturity and a coupon rate of 4.375 percent.
India INX launched the Global Securities Market (GSM) platform, a ground-breaking concept in India that provides issuers with a cost-effective and transparent way to raise capital. The platform provides a debt listing architecture that is comparable to that of major global listing sites such as London, Luxembourg, and Singapore, among others.
Global Securities Market has established USD 55 billion in MTN programmes and USD 31 billion in bond issues to date. Banks (SBI, EXIM Bank, HDFC Bank), supranationals (Asian Development Bank), state-owned finance corporations (NTPC, PFC, REC), and others make up a good issuer mix (Adani Green, Adani Port). Furthermore, India INX is a market leader in the derivatives area, with an 83 percent market share as of August 2021.