Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Adani Group To Repay $790 Million Share-backed Loans, Says Report
Adani Green Energy also plans to refinance its 2024 bonds via an $800 million, three-year credit line, said the people, who declined to be identified as they were not authÂorised to speak with media
Topics
Adani Group | Loan repayment | Adani Green Energy
Adani Group plans to prepay or repay share-backed loans worth $690 million to $790 million by March-end, two people with knowledge of the matter told Reuters, as the conglomerate seeks to burnish its credit profile after a short-seller attack.
The plan comes even as the group holds a fixed-income roadshow this week in Singapore and Hong Kong to shore up investor confidence amid share price falls and a regulatory probe.
Adani Green Energy also plans to refinance its 2024 bonds via an $800 million, three-year credit line, said the people, who declined to be identified as they were not authorised to speak with media.
The group presented both plans to bondholders in Hong Kong on Tuesday, the people said. The three-day roadshow is scheduled to end on Wednesday.
CFO at Hong Kong roadshow: No refinancing plans
Adani Group isn’t seeking to refinance debt or inject capital, its finance chief said on the sidelines of an investor roadshow aimed at rebuilding confidence in the crisis-ridden conglomerate.
Chief financial officer Jugeshinder Singh made the remarks in response to questions from Bloomberg News while attending investor meetings in Hong Kong Tuesday, the second leg of an Asian tour that began in Singapore this week.
When asked “Are you looking to refinance any debt?” on the sidelines of the Hong Kong roadshow Tuesday, Singh said: “No, we don’t have anything major at all.”
“There’s no transactions,” he added, without specifying a time frame or elaborating further. He also said “No” in response to the question: “Are you looking to inject any capital?”
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Tue, February 28 2023. 22:35 IST
RECENT NEWS
The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma
In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more