MUMBAI, Oct. 7 -- 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 (includ...