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