Linklaters advises on Adani Green Energy’s US$409m senior secured notes offering

Linklaters advised the lead managers on the US$409m senior secured notes offering by certain subsidiaries of Adani Green Energy Limited (AGEL RG1).

The 18-year 144A/RegS green bond due 2042 is issued under the AGEL RG1’s green finance framework, aligning with the four core pillars of the Green Bond Principles published by the International Capital Market Association. The offering was seven times oversubscribed.

Adani Green Energy Limited is one of the largest renewable companies in India, with a current project portfolio of 20,434 MW and AGEL RG1 consists of Adani Green Energy UP Ltd, Parampujya Solar Energy Pvt Ltd and Prayatna Developer Pvt Ltd.

The Linklaters team was led by partner and Head of India Group Amit Singh, with support from counsel Xunming Lim.

Head of India Group and Head of South and Southeast Asia Capital Markets Amit Singh commented:

“We are delighted to be able to advise on this green bond issuance, building on our longstanding relationship with the underwriters involved and with the Adani Group. We thank them for their continued trust and confidence they have placed in us in supporting them on strategic transactions such as this. Congratulations to all parties involved.”

The Linklaters India Group also recently advised on Adani’s US$1.36bn funding under a green loan facility for Adani Green Energy Limited to finance the world’s largest renewable energy park at Khavda in Gujarat, India. The deal was led by Singapore-based banking partner Rahul Chatterji and Head of India Group Amit Singh.

Linklaters has an established track record in India, supporting international clients and leading Indian corporates on capital markets, corporate, banking and finance and arbitration matters. The firm’s India practice is ranked in the top tier across all publications.