India’s Adani Green calls off planned dollar bond sale

“Some investors were demanding a higher yield, with which the company was not comfortable and hence it decided to call off the deal,” the banker said. — Reuters

MUMBAI: India’s Adani Green Energy has cancelled its plan to raise funds via US dollar-denominated bonds after investors placed bids at higher yields than the company was willing to pay, two bankers directly involved in the deal say.

The initial guidance set out to offer a yield of 7% for the 20-year maturity, according to one of the bankers.