Latham & Watkins represented Adani Green Energy Limited in the transaction.
Adani Green Energy Limited (AGEL), one of India’s largest renewable energy companies, executed its maiden US$750 million senior notes offering through a 3 year issuance at a fixed coupon of 4.375%.
The issuance was oversubscribed by 4.7 times. Subject to compliance with applicable laws and regulations, AGEL intends to use the proceeds of the issuance for onward lending to its subsidiaries for capital expenditure requirements to fund the development of utility scale projects.
AGEL is one of the largest renewable companies in India, with a current project portfolio of 13,990 MW. AGEL is part of the Adani Group’s promise to provide a better, cleaner and greener future for India. Driven by the Group’s philosophy of ‘Growth with Goodness’, the Company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations.
The Latham team was led by Singapore partners Rajiv Gupta (Picture) and Timothy Hia and Seoul partner Sukjoon (Richard) Lee, with Singapore associate Sarah Soh and Hong Kong associate Li-Kang Ker. Advice on English law was provided by London partner Manoj Tulsiani and advice on tax matters was provided by New York partner Jiyeon Lee-Lim with associate Lauren Bewley.
Involved fees earner: Lauren Bewley – Latham & Watkins; Rajiv Gupta – Latham & Watkins; Timothy Hia – Latham & Watkins; Sukjoon Lee – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; Sarah Soh – Latham & Watkins; Manoj Tulsiani – Latham & Watkins;
Law Firms: Latham & Watkins;
Clients: Adani Green Energy Limited;