Adani Group Pays $130 Million Loan Early, Tries To Maintain Investor Confidence
Adani Group pays $130 million loan early and tries to maintain investor confidence.
Adani Group’s Adani Ports and Special Economic Zone last month floated a tender to buy back USD 130 million of its July 2024 bonds and an equal amount in each of the next four, as it reinvested the investor.
Adani Group wanted to win confidence by showing that its liquidity position is comfortable.
Adani Group pays $130 million loan early: Prepay the $130 million loan.
Adani Group’s Adani Ports and Special Economic Zone (APSEZ) last month floated a tender to buyback July 2024 bonds through which Adani Ports will pay US$ 130 million and a tender to buy back an equal amount in each.
APSEZ said the buyback of 3.375 percent of dollar-denominated bonds maturing in 2024 had closed on May 8.
The Company has hired Barclays Bank, DBS Bank, Emirates Bank NBD PJSC, First Abu Dhabi Bank, PJSC, MUFG Securities Asia Singapore Branch, SMBC Nikko Securities (Hong Kong), and Standard Chartered Bank as managing agents for Pros Treat.
Hindenburg released the report on January 24.
On January 24, American short seller firm Hindenburg released an explosive report against Adani Group alleging accounting fraud and improper use of offshore tax havens for stock manipulation.
Although the Adani Group had denied all these allegations but by then the group had seen a huge fall in its shares.
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