MUMBAI: Adani Green Energy Ltd is seeking to raise as much as US$1bil through an offshore loan, according to people familiar with the matter – its first overseas borrowing since emerging from legal troubles in the United States.
The company is in early talks with lenders and advisors to raise a dollar loan, which may be raised in two tranches over the next three months, the people said, asking not to be identified because the information is private.
The five-year facility will be priced over the benchmark Secured Overnight Financing Rate, they said.
The loan proceeds will be used for various purposes, including capital expenditure, the people said, adding that discussions are at a preliminary stage and final terms may change.
An Adani Energy spokesperson did not reply to an email seeking comment.
Last month, billionaire founder Gautam Adani and his nephew Sagar agreed to pay US$18mil to settle US Securities and Exchange Commission allegations that they made false and misleading representations about Adani Green Energy.
The settlement removes a key overhang for the conglomerate and could help revive overseas fundraising efforts that were put on hold in November 2024 after US prosecutors charged Adani with driving a US$250mil bribery scheme.
The loans, if completed, would also provide a boost to India’s sluggish offshore loan market.
Local borrowers have raised US$9.6bil so far in 2026, the slowest pace in four years, data compiled show. — Bloomberg
