Adani Transmission raises $700 mn to fund assets under construction
30 Oct 2021
2 Min Read
CW Team
Adani Transmission (ATL), India's largest private-sector power transmission and retail distribution company, raised $700 million through definitive agreements with eight leading global lenders, including Mizuho Bank and Standard Chartered Bank, for its under-construction assets.
The company said on Thursday that ATL will use the facility to fund four transmission projects in Gujarat and Maharashtra.
Anil Sardana, MD, ATL told the media that the Adani Group's overall development model is validated by this project financing deal, which is the first of its kind sanctioned by international banks in the transmission sector.
To honour the nation's commitment to climate change, all Adani Group companies have aligned their investment plans.
Adani Transmission announced on May 16 that it plans to raise $1.15 billion in offshore loans to fund at least four projects in Gujarat and Maharashtra. The proposed loans were likely to be syndicated by at least four banks, including Standard Chartered, MUFG, Barclays, and JPMorgan.
To be sure, DBS Bank, Intesa Sanpaolo S.p.A., Mizuho Bank, MUFG Bank, Siemens Bank GmbH, Soci茅t茅 G茅n茅rale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. will all be offering the facility.
According to ATL, this strategic transaction will meet the banks' capital recycling needs while also making the same capital available for current and future projects.
Adani Transmission Limited, headquartered in Ahmedabad, India, is a power transmission company. It is currently one of the largest private-sector power transmission companies in India.
The company operates a total network of 12,200 circuit km as of July 2020, with more than 3,200 circuit km in various stages of construction.
Also read: Adani Transmission plans to raise $1.15 bn to finance projects
Adani Transmission (ATL), India's largest private-sector power transmission and retail distribution company, raised $700 million through definitive agreements with eight leading global lenders, including Mizuho Bank and Standard Chartered Bank, for its under-construction assets.
The company said on Thursday that ATL will use the facility to fund four transmission projects in Gujarat and Maharashtra.
Anil Sardana, MD, ATL told the media that the Adani Group's overall development model is validated by this project financing deal, which is the first of its kind sanctioned by international banks in the transmission sector.
To honour the nation's commitment to climate change, all Adani Group companies have aligned their investment plans.
Adani Transmission announced on May 16 that it plans to raise $1.15 billion in offshore loans to fund at least four projects in Gujarat and Maharashtra. The proposed loans were likely to be syndicated by at least four banks, including Standard Chartered, MUFG, Barclays, and JPMorgan.
To be sure, DBS Bank, Intesa Sanpaolo S.p.A., Mizuho Bank, MUFG Bank, Siemens Bank GmbH, Soci茅t茅 G茅n茅rale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. will all be offering the facility.
According to ATL, this strategic transaction will meet the banks' capital recycling needs while also making the same capital available for current and future projects.
Adani Transmission Limited, headquartered in Ahmedabad, India, is a power transmission company. It is currently one of the largest private-sector power transmission companies in India.
The company operates a total network of 12,200 circuit km as of July 2020, with more than 3,200 circuit km in various stages of construction.
Image Source Also read: Adani Transmission plans to raise $1.15 bn to finance projects
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