Adani Green Energy lists USD 750 million foreign currency green bonds on India INX

Indian renewable energy company, Adani Green Energy Ltd (AGEL) has listed its international currency green bonds worth USD 750-million on India INX's Global Securities Market platform. In a statement, India's first international stock exchange, India INX stated that the AGEL enterprise has listed its maiden USD 750-million green bonds with a 3-year maturity at a competitive coupon of 4.375 per cent.

The India INX added that the bonds were rated Ba3 (stable) by Moody’s and have accumulated huge investor interest from across the globe. These bonds have been listed on India INX's Global Securities Market (GSM) green platform, which is the exchange's dedicated platform for listing of green, social, sustainable and all such ESG (environment, social and governance)-flavoured bonds.

India INX MD V Balasubramaniam welcomes Adani initiative

Managing Director and Chief Executing Officer of India INX V Balasubramaniam said, "We welcome Adani Green Energy for the listing of its USD 750-million foreign currency green bonds on the GSM green platform of India INX. The criteria for issuance is aligned with global standards established by ICMA's Green Bond Principles and Climate Bonds Initiative."

Balasubramaniam also said that that the negotiation is committed to the development of the Environmental, Social and Corporate Governance (ESG) segment in the International Financial Services Centre (IFSC) which is in line with the vision of the IFSC's issue and listing regulations issued in 2021.

India INX

India INX, the BSE's international arm, introduced the Global Securities Market (GSM) platform, which is a pioneering concept in India, to offer issuers an efficient and transparent method to raise capital. The platform offers a debt listing framework at par with other global listing venues such as London, Luxembourg and Singapore. To date, the Global Securities Market has established over 55 billion USD in MTN (Medium-term note) programmes and more than 31 Billion USD of bonds issued. The issuer mix is a healthy one with banks (SBI, Exim Bank, HDFC Bank), supranational (Asian Development Bank), state-owned finance corporations (NTPC, PFC, REC) and several others (Adani Green, Adani Port).

Further, India INX is also a market leader in the derivatives segment, and for August 2021, the market share of India INX stood at 83 per cent. India INX commenced its trading activities on January 16, 2017, and is India's first international exchange set up at the Gujarat International Finance Tec-City, (GIFT city) in Gujarat's Gandhinagar.

(Inputs from PTI)

(Image: Pixabay, PTI)