Adani ports to repurchase Rs 23 billion of 2024 bond
  1. Home
  2. Infrastructure Urban
  3. ECONOMY & POLICY
  4. Adani ports to repurchase Rs 23 billion of 2024 bond
ECONOMY & POLICY

Adani ports to repurchase Rs 23 billion of 2024 bond

28 Sep 2023 CW Team
Adani Ports and Special Economic Zone has announced its intention to repurchase up to $ 195 million worth of its 2024 bonds. This move comes as the Indian conglomerate, backed by billionaire Gautam Adani, aims to put behind the accusations made by a US shortseller. The 3.375% notes experienced their most significant increase in value since April when it was revealed that the company would be willing to pay $975 for every $1,000 in principal for debt submitted for redemption by October 11. Subsequently, the offer price will decrease to $ 965 per $ 1,000. Adani Ports stated that it would finance this repurchase using its cash reserves and clarified that the targeted bond has $520 million in outstanding principal. In recent months, the Adani group has been working to restore investor confidence, particularly following the publication of allegations of wrongdoing by shortseller Hindenburg Research, which had triggered a sell-off in both its bonds and stocks. Adani officials have consistently refuted these allegations.
Discover the Cement Expo! Click the button below to explore all the event details.

Visit Cement Expo Website

Adani Ports and Special Economic Zone has announced its intention to repurchase up to $ 195 million worth of its 2024 bonds. This move comes as the Indian conglomerate, backed by billionaire Gautam Adani, aims to put behind the accusations made by a US shortseller. The 3.375% notes experienced their most significant increase in value since April when it was revealed that the company would be willing to pay $975 for every $1,000 in principal for debt submitted for redemption by October 11. Subsequently, the offer price will decrease to $ 965 per $ 1,000. Adani Ports stated that it would finance this repurchase using its cash reserves and clarified that the targeted bond has $520 million in outstanding principal. In recent months, the Adani group has been working to restore investor confidence, particularly following the publication of allegations of wrongdoing by shortseller Hindenburg Research, which had triggered a sell-off in both its bonds and stocks. Adani officials have consistently refuted these allegations.

Previous
DTC to procure e-busses for Mohalla bus scheme

Next
Evergrande offshore creditors mull liquidation

Related Stories

Gold Stories

Opinion Poll

Question : What are you most interested in Construction Technology?

Latest updates

Equipment
06 Dec 2023

Interview: Ramesh Palagiri, MD & CEO, Wirtgen India

ECONOMY & POLICY
06 Dec 2023

VE Commercial Vehicles sells 5194 units in Nov 2023

Equipment
06 Dec 2023

Sany expands new dealership in Chhattisgarh

POWER & RENEWABLE ENERGY
06 Dec 2023

LAPP unveils groundbreaking SPE portfolio

Equipment
06 Dec 2023

Komatsu connects people through technology

ROADS & HIGHWAYS
06 Dec 2023

Visakhapatnam commences road expansion projects

ROADS & HIGHWAYS
06 Dec 2023

Silkyara-Barkot tunnel work to restart soon

ROADS & HIGHWAYS
06 Dec 2023

BMC invites bids for DP Road construction

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram