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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
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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?”
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First Published: Tue, February 28 2023. 22:35 IST
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