Adani Enterprises To Raise Funds Through Global Bonds
by Charmi Gutka
Adani Enterprises is planning to raise funds by issuing $1.5 Bn global bond to fund its Australian coal, rail and port projects.
In August 2010, Adani Group had signalled its grand plan for Australia with the $3 bn purchase of Linc Energy’s coal tenements in the Galilee Basin, Australia’s single largest tenement, with a resource of 10.4 bn tonnes of coal.
The company plans to invest a further $7 bn in Australia over the next few years in the coal mine, the Abbot Point port project, and a 450 km track system that will connect the two.
Leading global growth private equity firm TA Associates and India Value Fund Advisors’ special purpose vehicle, Argan (Mauritius) are pumping around $500 Mn in high-speed broadband services provider Atria Convergence Technologies for a 95% stake in the company.