MUMBAI, Oct. 8 -- Adani Enterprises Ltd is tapping the corporate debt market today to raise Rs.1,000 crore, according to a term sheet reviewed by Mint. Of the total issue size, Rs.300 crore is earmarked for anchor investors, with the rest available for bidding. The company plans to raise the funds through privately placed bonds maturing on 24 March 2028. The bonds carry a coupon of 8.70%, payable semi-annually, and allotment to investors is scheduled for Wednesday. Rated 'AA-' by Icra Ltd, the bond issue is expected to attract interest from mutual funds and banks, according to market participants. "100% of the proceeds of the Issue will be utilized by the Issuer for prepayment or repayment, in full or in part, of the indebtedness (including internal debt) of the Issuer and/or providing loans to its subsidiaries and for general corporate purposes," according to the term sheet. The latest fundraise follows Adani Enterprises' Rs.1,000-crore public bond issue in July, which offered two-, three-, and five-year bonds with coupons of 8.95-9.30%. Prior to that, the company had raised Rs.800 crore through a public issue in September 2024. This bond issuance comes amid a broader slowdown in corporate debt offerings, triggered by rising yields. On Monday, Mint reported that corporate bond sales in the September quarter fell to Rs.2 lakh crore, down from Rs.3.44 lakh crore in the June quarter and Rs.3.2 lakh crore a year earlier, according to data from primedatabase.com. The decline coincided with a rise in yields on 10-year bonds issued by the National Bank for Agriculture and Rural Development (Nabard), which serve as a benchmark for the corporate debt market. Nabard bond yields jumped 18-20 basis points (bps) to 7.24%, mirroring a 20-bps increase in the 10-year government bond yield to 6.50%. Market participants attribute the slowdown to the Reserve Bank of India's June monetary policy, when the central bank shifted its stance from accommodative to neutral while cutting interest rates by 50 bps. This created uncertainty over the future trajectory of rates, dampening issuer confidence, with many companies opting to wait for clearer signals before committing to long-term borrowing. In addition, elevated sovereign and state borrowing have crowded out corporate issuances, contributing to weak demand for long-term papers....