Adani Group Plans To Repay Up To $790 Million Loans By March: Report

These plans were presented by the Adani management to its bondholders in Hong Kong. (File)

Hong Kong:

The Adani Group plans to prepay or repay share-backed loans worth between $690 million and $790 million by the end of March this year, two people with knowledge of the matter said.

Adani Green Energy also plans to refinance its 2024 bonds via a $800 million, three-year credit line, said the sources, who declined to be named as they were not authorised to speak to the media.

Those plans were presented by the Adani management to the group’s bondholders in Hong Kong on Tuesday.

An Adani spokesperson did not immediately respond to Reuters request for comment.

Seven listed Adani group of companies lost over $140 billion in market value since a January 24 report by Hindenburg Research alleged the group improperly used tax havens and manipulated stock, and flagged concerns over its high debt levels.

Adani Group has rejected the allegations and denied wrongdoing.

Adani Group has already held calls with bondholders earlier this month in attempts to assuage investor concerns, where group executives revealed refinancing plans at some of its units and also plans to completely pre-pay all loans against shares.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Featured Video Of The Day

Current Account Deficit To Moderate In Second Half Of 2022-23: RBI Governor

Source link


Please enter your comment!
Please enter your name here

NFL Network host pushes for Super Bowl schedule change: ‘I want it on Saturday’

Football fans across America have long called for the Monday after the Super Bowl to be recognized...

George Clooney & Grant Heslov’s Smokehouse Pictures Coming Home To Warner Bros In Film Deal With Co-Heads Mike De Luca & Pam Abdy

EXCLUSIVE: Smokehouse Pictures partner George Clooney and Grant Heslov have signed an overall film deal with the...

Morgan Stanley thinks this little-known software stock can surge nearly 35%

An under-the-radar software company could yield investors as much as 35% upside, according to Morgan Stanley. The...

Russia’s latest nuclear threat slammed by NATO, ‘ closely monitoring’ weapons move to Belarus

NATO on Sunday clapped back at Russian President Vladimir Putin after he announced over the weekend that...