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The Board of Directors of Adani Transmission have approved issuance of US Dollar denominated foreign currency bonds up to $500 million.
In a statement to the exchanges, Adani said that these Dollar-denominated foreign currency bonds will be issued on a private placement basis in one or more tranches abroad. It may also look at listing it in any of the stock exchanges in India or overseas.
The proceeds of the Bonds will be used for refinancing purposes. Further, the Board also approved buyback of existing Non-convertible Debentures (NCDs) and (Masala Bond of Rs.2,290 crore in one or more tranches.
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