The flagship of billionaire Gautam Adani has secured an A+ rating, signifying adequate degree of safety regarding timely debt servicing, from Care Ratings for the ₹1,000 crore bonds sale. It has hired JM Financial, Edelweiss Financial Services, AK Capital and Trust Capital to manage the bonds sale.
AEL is looking to sell bonds maturing in three years and five years and may pay a coupon of around 9%, said one of the bankers, seeking anonymity.
"As of now, the company has taken a rating for ₹1,000 crore. However, they may decide the exact size closer to launch," the second banker added.
"Our portfolio companies undertake routine capital management activities. As per policy, we do not comment on specific transactions which are part of normal evaluation," a spokesperson for Adani Group said.
This story is from the November 07, 2022 edition of Hindustan Times.
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This story is from the November 07, 2022 edition of Hindustan Times.
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