Corporate Debt Restructuring Masterclass

18 July 2022 (Mon), 5pm Singapore/HK time

Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC), has made an announcement of the completion of an INR 154bn ($2bn) investment transaction in the Adani Group’s portfolio companies. In April, IHC agreed to invest AED 7.3bn ($2bn) in three companies of Adani Group. IHC has infused capital in Adani Green Energy, Adani Transmission, and Adani Enterprises through the preferential allotment route. IHC’s partnership with Adani is expected to generate 9% of India’s non-fossil energy capacity by 2030. Adani Green has plans to develop and operate a renewable energy generation capacity of 25 GW by 2025 and 45 GW by 2030. IHC’s investment will support Adani Transmission’s arm Adani Electricity Mumbai to increase the renewable energy penetration from 3% in FY 2021 to 60% by FY 2027. IHC’s investment in Adani Group represents 4.87% of the total trade between the UAE and India.

Adani Group’s dollar bonds were trading weaker with its 4.375% 2024s down over 0.54 points to 92.75 yielding 7.88%.

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