Adani tests water for Indian issuers with PP launch
Adani Transmission, the Indian power transmission firm, has launched a US private placement, according to several market participants, in a debut set to test institutional investors’ appetite for Indian risk.
Bank of America Merrill Lynch and Barclays are arranging the transaction, and have already held roadshows for the Baa3/BBB-/BBB- rated borrower, according to several market sources. According to two sources, Adani is looking for roughly $300m-$350m, and had initially been interested in maturities up to 30 years....
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