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Adani Electricity Mumbai Ltd (AEML) has successfully completed an open market repurchase of USD 49.5 million of its 3.949 per cent Senior Secured Notes due in 2030. The repurchase was funded entirely through internal cash flows and forms part of AEML’s ongoing capital management strategy.

The original bond issuance, valued at USD 1 billion, was launched in February 2020. Following this latest repurchase and cancellation, the outstanding principal on the notes now stands at USD 830.5 million.

This move follows an earlier tender offer completed in November 2023, when AEML repurchased USD 120 million worth of notes. Both transactions collectively underscore the company’s strong cash generation and financial flexibility, while helping reduce its overall debt obligations.

AEML noted it may continue similar liability management initiatives subject to market conditions and in line with its capital strategy.