Adani Group Revives Plan to Seek $1 Billion With Dollar Bond

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Or sign-in if you have an account.6igx0fa4jf6h9l]1q7nak5df_media_dl_1.png Bloomberg(Bloomberg) — Indian conglomerate Adani Group is reviving plans to seek about $1 billion through a US-listed dollar-denominated bond, according to people familiar with the matter, a move reflecting its intent to return to the US financing market as its legal troubles there ease. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe ports-to-power group, controlled by billionaire Gautam Adani, has begun early-stage internal discussions and informal consultations with advisers, the people said, asking not to be identified because the deliberations are private. Any proceeds from the bond sale, carried out by its energy unit Adani Green Energy Ltd., would go toward capital expenditures and refinancing needs, they said. This week, Gautam Adani and his nephew Sagar have agreed to pay a total of $18 million to settle US Securities and Exchange Commission allegations that they made false and misleading representations about Adani Green Energy. The proposed settlement paves the way for the group to ramp up investment and capital-raising after months of battling the allegations.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe fundraising may take place over the next three to four quarters, or by early next year, the people said. If carried out, it would mark the first US-listed debt issuance by an Adani Group firm, they added.An Adani Group spokesperson declined to comment. In November 2024, Adani Green sought to revive a dollar bond offering, about a month after shelving the deal following investors’ demand for a higher yield. But just days later, the SEC alleged in its lawsuit that Adani spearheaded an effort to pay or promise hundreds of millions of dollars in bribes to Indian officials to win contracts Adani Green needed to develop India’s largest solar power plant project.Following the proposed settlement, most of Adani Group’s dollar bonds rose on Friday. An Adani Green Energy note due in 2042 jumped as much as 1.1 cent, the most since early April, to 98.4. A note from Adani Ports and Special Economic Zone due in 2041 gained 0.9 cent. Shares of the group’s flagship Adani Enterprises Ltd. rose as much as 3.3% in Mumbai on Friday. A day earlier, shares spiked 8.6% ahead of the US court filing of the settlement proposal. The company’s credit profile is also showing signs of improvement. In November 2025, Crisil Ratings, the local arm of S&P Global Ratings, upgraded Adani Green to AAA from AA+, citing healthy financial risk profile.—With assistance from P R Sanjai, Harry Suhartono and Alex Gabriel Simon.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.