India's Adani to issue $1.5bn global bond

India's Adani Enterprises said it is planning a USD 1.5 billion global bond issue to fund its Australian coal, rail and port project.

Adani Enterprises is developing the Carmichael mine to produce 60 million tonnes a year of coal for export, mostly to power stations in India. The project also involves building a 400-km rail line.

The Adani Group has invested $3 billion in cash in its Australian projects and is expected to invest $7 billion more over the next few years, the company said in a statement.

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