Adani Electricity Mumbai Ltd concludes USD 49.5 Mn Open Market Repurchase of its Senior Secured Notes

Adani Electricity Mumbai Ltd. ("AEML") refers to the USD 1,000 Mn 3.949% Senior Secured Notes due 2030 issued on 5 February 2020 (the "Notes").

AEML announces it has repurchased in the open market an aggregate amount of USD 49.5 Mn principal amount of Notes and cancelled the purchased Notes. The repurchase was funded through the internal cash flows of AEML. Following these transactions, the outstanding principal amount of the Notes is USD 830.5 Mn.

In accordance with AEML's capital management plan, the open market repurchase and cancellation of the Notes follows the earlier tender offer of USD 120 Mn of Notes completed in November 2023. These transactions reduce AEML's outstanding debt obligations, demonstrating its financial flexibility and strong cash-generation profile.

AEML may seek to undertake further liability management exercises from time to time, subject to market conditions in accordance with its capital management plan.

This announcement does not constitute or form part of an offer to sell or purchase, or a solicitation of an offer to sell or purchase the Notes or any other securities.

Shares of Adani Energy Solutions Limited was last trading in BSE at Rs. 837.60 as compared to the previous close of Rs. 828.40. The total number of shares traded during the day was 118831 in over 3694 trades.

The stock hit an intraday high of Rs. 842.65 and intraday low of 816.80. The net turnover during the day was Rs. 98939829.00.

Source : Equity Bulls

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AdaniEnergySolutions INE931S01010 AdaniElectricityMumbai