Adani Green returns for dollars with IG rating
Investors gobbled up Adani Green Energy’s rare Indian project-linked bond on Thursday, seizing the opportunity to buy non-Chinese paper. The company’s transaction was also helped along by its new investment grade rating.
The September market had been bombarded with dollar bonds from China, but the primary market drew to a near standstill this week, as Chinese issuers and investors took a break for the Golden Week holiday. Adani Green was the only trade out in the market on Thursday, giving