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Home / Business / Adani To Prepay 130 Mn Debt To Boost Investor Confidence 506406

Adani to prepay $130 mn debt to boost investor confidence

PTI
Updated At : 12:16 PM May 10, 2023 IST

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New Delhi, May 9

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Adani Group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller.

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Adani Ports and Special Economic Zone (APSEZ) had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.

“Since the principal amount of notes validly tendered and not validly withdrawn on or prior to the early tender date (of May 8) exceeded the maximum acceptance amount of $130 million in aggregate principal amount of the outstanding notes, the company will accept such notes for purchase subject to the proration factor of 34.2649%,” it said.

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