Adani Transmission Step One Limited (ATSOL), an AESL subsidiary, is undertaking a major refinancing of its outstanding U.S.$500 million Senior Secured Notes due July 2026. ATSOL Global IFSC Limited will issue new U.S.$500 million Senior Secured Notes due 2041 to fully replace the existing debt. The new notes have secured favorable investment-grade ratings from Fitch (BBB-) and Moody’s (Baa3), and a redemption notice has been issued for the older notes.
Debt Refinancing Initiative Announced
Adani Energy Solutions Limited (AESL) announced a significant financial restructuring involving its wholly-owned subsidiary, Adani Transmission Step One Limited (“ATSOL”). The core purpose of this announcement, dated March 12, 2026, is the intended refinancing of existing debt obligations.
Details of the Senior Secured Notes
ATSOL currently has U.S.$500,000,000 Senior Secured Notes outstanding, which are scheduled to mature in July 2026 (the “Existing Notes”).
To facilitate a long-term refinancing strategy, ATSOL Global IFSC Limited (a GIFT City subsidiary of ATSOL) has executed a Note Purchase Agreement for the issuance of new U.S.$500,000,000 Senior Secured Notes. These “Proposed Notes” will have a maturity date in 2041, substantially extending the debt tenure.
Strong Credit Ratings Achieved
The refinancing move is supported by favorable credit assessments for the Proposed Notes. The debt instruments have been assigned Investment Grade ratings:
- Fitch Ratings: BBB-/Stable
- Moody’s Ratings: Baa3/Stable
Action Taken on Existing Notes
In connection with the issuance of the Proposed Notes, ATSOL has formally issued a notice of redemption to the holders of the Existing Notes, ensuring the full retirement of the 2026 maturity debt.
Submission to Exchanges
The intimation was formally submitted to both the BSE Limited (Scrip Code: 539254) and the National Stock Exchange of India Limited (Scrip Code: ADANIENSOL) for compliance and record-keeping purposes.
Source: BSE
