Adani Ports and Special Economic Zone combined to pay $ 130 million of its debt. The APSEZ company offered nearly $413 million worth had been tendered for early payment.
The company, APSEZ, announced a tender of up to $ 130 million of 3.375 per cent dollar-denominated bonds, set to mature in 2024. It also stated a buyback program of certain debt securities to prepay near-term debt maturities partly. The company has issued a cash tender for up to $ 130 million in the aggregate principal amount of the outstanding 3.375 per cent.
The sole aim of this move is to boost the investor’s confidence after the group’s shares fell after the release of Hindenburg Research’s damning report. Since the release of the Hindenburg Research report on January 24, the seven listed stocks of Adani Group have lost about $ 114 billion in market value.
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The APSEZ, led by billionaire Gautam Adani, was found accused of fraud, stock manipulation and other financial misdeeds. But the company and Adani continue to deny the allegations.
