This will be the Adani group's first dollar-denominated bond issue after a report by U.S. short-seller Hindenburg Research in January 2023 led to a sell-off in stocks and overseas-listed bonds of Adani group companies.

The rout forced the company to retreat from the foreign currency bond market and led to a buyback of $315 million of listed overseas debt securities.

The proceeds from the issue will be used to refinance the 6.25% senior secured notes, worth $500 million, due in September 2024.

The issuer has appointed Barclays, DBS Bank, Deutsche Bank, Emirates NBD Bank, First Abu Dhabi Bank, ING Bank, IMI-Intesa Sanpaolo, MUFG Securities Asia, Mizuho Securities (Singapore), SMBC Nikko Securities, Societe Generale, QNB Capital, Standard Chartered Bank and State Bank of India's London branch as joint bookrunners.

The bonds will be rated 'Ba1' by Moody's Investor Service and 'BBB-' by Fitch Ratings.

(Reporting by Bhakti Tambe; Editing by Janane Venkatraman)