Adani Unit Refinances Offshore Bond with Apollo-Backed Funds

A unit of the Adani Group has refinanced its offshore bond maturing in June using funds from a $500 million private placement last month, according to people familiar with the matter.

Adani Energy Solutions Ltd. will use the proceeds raised through a bond placed with funds managed by Apollo Global Management Inc. to refinance its 2016 foreign-currency debt, the people said, asking not to be identified as discussions are private.