Adani Green to disclose refinancing plan after fiscal year ends: Report

Adani Green Energy has a refinancing plan which will be disclosed after the fiscal year ends, an executive of the embattled Adani Group informed bondholders on a call on Thursday, said a report.

The executive said bondholders will get full commitment and disclose details of refinancing plan after fiscal year, reported Reuters quoting a source with direct knowledge.

The executive said RG1 bond will get refinancing through 15-year amortising private placement.

Adani Green and Adani Transmission, caught up in a short-selling storm in recent weeks, are holding calls with bond investors on February 16 and February 21. An Adani Transmission call next week will be attended by its CFO Rohit Soni and CFO of Adani Electricity Kunjal Mehta.

The Adani Green Energy notes are currently quoted at around 86 cents on the dollar, having jumped by about eight points following the refinancing news from the call, according to CBBT pricing compiled by Bloomberg.

Investors are zeroing in on the Adani Group’s finances after US short seller Hindenburg Research accused it of fraud and market manipulation, allegations the ports-to-power conglomerate denies.