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Adani Ports to pay $130 million of debt early, $413 million of debt tendered for payment

(Reuters) – India’s Adani Ports and Special Economic Zone, a group company of the embattled Adani Group, said on Tuesday it would prepay $130 million of its debt, after nearly $413 million worth of debt was offered dollars for your advance payment.

Adani Ports had submitted an offer of up to $130 million of 3.375% dollar-denominated notes due 2024 late last month as it seeks to boost investor confidence after the group’s shares were hit early. this year by a US short seller’s report.

Led by billionaire businessman Gautam Adani, the group’s seven publicly traded stocks have lost about $114 billion in market value since a Jan. 24 report by Hindenburg Research accused it of misusing offshore tax havens and stock manipulation. The group denied all the accusations.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Shri Navaratnam)

(Only the headline and image in this report may have been modified by Business Standard staff; all other content is auto-generated from a syndicated feed.)

First posted: May 9, 2023 | 8:00 AM IS

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