Mumbai: Having raised $2.7 billion through dollar bonds in 2019, the most raised by a private sector group last year, Gautam Adani's group is going back to the dollar bond market to raise $1 billion for it's Mumbai electricity distribution business. Adani Electricity Mumbai Ltd (AEML), a unit of Adani Transmission Ltd, which produces and supplies electricity to Mumbai, has launched its maiden dollar bond offering, eyeing as much as $1 billion, according to a term sheet seen by Mint. “Adani Transmission Ltd has circled up its US private placement transaction of USD notes to the eligible international investors. Adani Transmission raised $500 million in November. Last year, the transmission and distribution business sold a minority stake in its Mumbai electricity distribution company, Adani Electricity Mumbai Ltd (AEML), to Qatar Investment Authority for $450 million.

Source: Mint February 05, 2020 06:56 UTC