MUMBAI: Adani ports And special economic zonea subsidiary of the ailing Adani Group, said Tuesday it would prepay $130 million of its debt after putting nearly $413 million worth of debt into early prepayment.
Adani Ports had launched an offering of up to $130 million of dollar-denominated bonds at 3.375% and maturing in 2024 late last month to boost investor confidence after the group’s shares started trading this year were hit by the report of a US short seller.
Led by billionaire businessman Gautam Adani, the group’s seven listed stocks have lost some $114 billion in market value since a Jan. 24 report accused Hindenburg Research of abusing offshore tax havens and stock manipulation. The group denied all allegations.
Adani Ports had launched an offering of up to $130 million of dollar-denominated bonds at 3.375% and maturing in 2024 late last month to boost investor confidence after the group’s shares started trading this year were hit by the report of a US short seller.
Led by billionaire businessman Gautam Adani, the group’s seven listed stocks have lost some $114 billion in market value since a Jan. 24 report accused Hindenburg Research of abusing offshore tax havens and stock manipulation. The group denied all allegations.
