Adani debts enter spotlight as dollar bond coupon deadlines loom
1 year, 10 months ago

Adani debts enter spotlight as dollar bond coupon deadlines loom

Live Mint  

Scrutiny of the debts of Adani Group companies has intensified following a report by short seller Hindenburg Research, fixing investor attention in the months ahead on a string of bond interest deadlines. There’s been no suggestion that the Adani entities would struggle to make these payments, and Adani has flagged interest coverage ratios that show it has the wherewithal to meet such obligations. The entities mentioned above don’t have any dollar bond maturities until 2024, when Adani Ports and Adani Green are due to repay a combined $1.9 billion. Here’s the calendar for some of those dollar note deadlines in coming years: Already in August, the conglomerate’s financial situation made headlines after CreditSights, a Fitch Group unit, termed it “deeply overleveraged.” Adani Group denied that assessment, saying its companies had progressively reduced their debt load.

Payments Debt Interest Group Bloomberg Adani Hindenburg Entities Ratio Loom Dollar Bond Enter Spotlight  debts  adani  loom  coupon  debt  group  dollar  bond  entities  companies  interest  times  deadlines  ratio  enter  spotlight  payments

History of this topic

Enough cash, no concerns on debt servicing, says Adani Group
4 weeks, 1 day ago

Enough cash, no concerns on debt servicing, says Adani Group

Live Mint  

The Adani Group on Monday said that it has enough cash to service debt at all group firms in the next 12 months, in one of its first statements since the indictment of founder Gautam Adani by US federal prosecutors last week. Combined cash flows in the past 12 months were more than the annual debt repayments projected for each …

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations
Trending News
4 weeks, 1 day ago

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations

Live Mint  

New Delhi, Nov 25 Billionaire Gautam Adani's conglomerate on Monday showcased its cash reserves and profits that are enough to service debt obligations as well as meet growth plans as it reassured investors about business as usual despite a US bribery indictment against the founder. The ports-to-energy conglomerate, whose chairman Adani and two other executives have been indicted in a …

Adani bonds slide to year low as investors and lenders weigh bribery allegations
1 month ago

Adani bonds slide to year low as investors and lenders weigh bribery allegations

Live Mint  

Adani dollar bond prices fell on Monday to almost one-year lows, as investors cut their exposure to the Indian conglomerate and some bankers considered pausing fresh lending in the wake of bribery and fraud accusations by U.S. authorities The group's billionaire chairman, Gautam Adani, and seven other people were last week charged with agreeing to pay around $265 million in …

Adani touts financial muscle, says can grow without external debt
1 month ago

Adani touts financial muscle, says can grow without external debt

The Hindu  

Billionaire Gautam Adani's conglomerate on Monday showcased its cash reserves and profits that are enough to service debt obligations as well as meet growth plans as it reassured investors about business as usual despite a U.S. bribery indictment against the founder. Gautam Adani indictment: In-depth coverage The ports-to-energy conglomerate, whose chairman Mr. Adani and two other executives have been indicted …

Adani Group stocks, bonds fall for a second day after founder's US indictment
1 month ago

Adani Group stocks, bonds fall for a second day after founder's US indictment

Deccan Chronicle  

Stocks and bonds of India's Adani Group dropped for a second session on Friday after a U.S. arrest warrant was issued for its billionaire founder Gautam Adani over an alleged 265 million dollars bribery scheme. U.S. prosecutors have charged Adani and seven other people with agreeing to pay bribes to Indian government officials to obtain contracts that could yield 2 …

US indictment of Adani Group honchos: What are the implications?
1 month ago

US indictment of Adani Group honchos: What are the implications?

New Indian Express  

The indictment of top executives from one of India’s large multinational conglomerates by a US Federal Court on Wednesday, November 19, 2024, has raised several pressing questions for both global and domestic investors. The charges—linked to a Rs 2,300 crore bribery scheme involving Adani Group executives, including Chairman Gautam Adani and directors Sagar Adani and Vinit Jain—have far-reaching implications not …

India’s Adani Group sees $22 billion in value wiped off after US indictments
1 month ago

India’s Adani Group sees $22 billion in value wiped off after US indictments

Live Mint  

-Shares of Adani Group companies lost about $22 billion in market value in early trade on Thursday after U.S. prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme. Gautam Adani's flagship company Adani Enterprises fell 10%, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC, …

Adani Green scraps USD 600 million bond sale after promoter charged in alleged bribery case in U.S.
1 month ago

Adani Green scraps USD 600 million bond sale after promoter charged in alleged bribery case in U.S.

The Hindu  

Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani’s conglomerate, on Thursday scrapped a USD 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the U.S. prosecutors charged Gautam Adani and associates with participating in a scheme to pay over USD 250 million bribe to Indian officials …

Adani group's bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates
1 month ago

Adani group's bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates

Hindustan Times  

Gautam Adani indicted in US: Dollar bond prices of Adani Group companies dropped significantly in early Asian trading on Thursday, November 21, following the indictment of the conglomerate's billionaire chairman, Gautam Adani, in New York on charges of bribery and fraud, news agency Reuters reported. Gautam Adani charged in bribery scheme: US prosecutor Billionaire Gautam Adani has been charged with …

Adani group's bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates
1 month ago

Adani group's bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates

Hindustan Times  

Gautam Adani indicted in US: Dollar bond prices of Adani Group companies dropped significantly in early Asian trading on Thursday, November 21, following the indictment of the conglomerate's billionaire chairman, Gautam Adani, in New York on charges of bribery and fraud, news agency Reuters reported. Gautam Adani charged in bribery scheme: US prosecutor Billionaire Gautam Adani has been charged with …

Adani Group issues statement on US bribery allegations, postpones USD 600 million bond deal | DETAILS
Top News
1 month ago

Adani Group issues statement on US bribery allegations, postpones USD 600 million bond deal | DETAILS

India TV News  

In response to charges filed by US prosecutors accusing Adani Group Chairman Gautam Adani and other Indian executives of involvement in an alleged bribery scheme, Adani Green Energy issued an official statement, saying it will not move forward with its proposed USD-denominated bond offerings. In an exchange filing on Thursday, Adani Green Energy Limited said that the United States Department …

Adani Group issues statement on bribery charges, abandons $600 million bond deal
1 month ago

Adani Group issues statement on bribery charges, abandons $600 million bond deal

India Today  

The Adani Group has cancelled its USD 600 million bond offering after US prosecutors accused Gautam Adani and other executives of orchestrating a USD 250 million bribery scheme. The indictment adds to the group’s challenges following a tumultuous period since 2023, when the Hindenburg Research report accused Adani of stock manipulation and fraud, erasing $150 billion in market value. ADANI …

Why US court's 'bribery' indictment is a huge credibility crisis for Adani Group
1 month ago

Why US court's 'bribery' indictment is a huge credibility crisis for Adani Group

India Today  

In their worst fall since the Hindenburg allegations in January 2023, shares of Adani Group companies fell over 20 per cent on November 21 following charges against chairman Gautam Adani and seven others in the United States in an alleged multi-million-dollar bribery and fraud case. The filing by the US District Court, Eastern District of New York, that accused Adani, …

Adani Group subsidiary cancels $600 million bond sale after US indictment
1 month ago

Adani Group subsidiary cancels $600 million bond sale after US indictment

New Indian Express  

MUMBAI: Indian conglomerate Adani Group's green energy subsidiary said Thursday it had cancelled a US dollar-denominated bond sale, in its first statement acknowledging US criminal charges against billionaire founder Gautam Adani. "In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD-denominated bond offerings," Adani Green Energy's statement said. Gautam Adani, chairman of the …

India's Adani Group unit raises 19.5 billion rupees via bond issue, say bankers
2 months, 3 weeks ago

India's Adani Group unit raises 19.5 billion rupees via bond issue, say bankers

The Hindu  

India’s Adani Airport Holdings has raised ₹19.5 billion via the biggest domestic bond issue since U.S. short-seller Hindenburg Research accused its parent group of improper use of offshore tax havens and stock manipulation. The Adani Group company, which manages and develops airport infrastructure assets in the country, had invited bids from investors earlier in the day and will pay a …

Adani Enterprises eyes first-ever public debt issue in coming weeks: sources
4 months, 3 weeks ago

Adani Enterprises eyes first-ever public debt issue in coming weeks: sources

The Hindu  

Adani Enterprises, the flagship firm of Adani Group, plans to launch its first-ever public issue of bonds in the coming weeks to raise up to 6 billion rupees, two sources aware of the development said on Tuesday. Adani Enterprises had decided not to proceed with a debut retail bond offering of up to 10 billion rupees last year after U.S.-based …

Adani Ports to buy back $195 million notes due in 2024 in cash tender offer
1 year, 2 months ago

Adani Ports to buy back $195 million notes due in 2024 in cash tender offer

Live Mint  

Adani Ports and Special Economic Zone Ltd informed exchanges on Wednesday that it will buy back up to $195 million of its notes due in 2024 at a price below their original issue. According to a filing with the exchange, the company has started a tender offer to buy the outstanding 3.375% senior notes due 2024 for up to $195 …

Adani Group in talks to refinance up to $3.8 billion debt: Report
1 year, 6 months ago

Adani Group in talks to refinance up to $3.8 billion debt: Report

Hindustan Times  

Adani Group is in talks with lenders, including global banks, as it seeks to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements Ltd. last year, said people familiar with the matter. A panel of experts appointed by the Supreme Court said in a report last month that there’s no regulatory failure or …

Adani Group repays $2.65 billion loans to complete prepayment programme
1 year, 6 months ago

Adani Group repays $2.65 billion loans to complete prepayment programme

Live Mint  

The Adani Group has said that it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut the overall leverage in an attempt to win back investor trust after US short seller Hindenburg levelled allegations of stock price manipulation against the port-to-energy conglomerate. In a statement, the Adani group said it has repaid $2.15 billion of loans …

Adani Group repays loans worth USD 2.65 bn to complete prepayment programme
1 year, 6 months ago

Adani Group repays loans worth USD 2.65 bn to complete prepayment programme

India TV News  

Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion …

Adani Ports bond repurchase offer oversubscribed with bids worth $413 million
1 year, 7 months ago

Adani Ports bond repurchase offer oversubscribed with bids worth $413 million

Live Mint  

Adani Group's ports and logistics arm Adani Ports, on Tuesday, said its recent offer to repurchase $130 million worth of the company's bonds received tender offer worth $412.7 million from bondholders. “According to the information provided by Morrow Sodali Ltd, the information and tender agent for the Tender Offer, an aggregate principal amount of $412,724,000 of the Notes had been …

Adani Group firms dollar bonds rise as group considers partial buyback of debt securities
1 year, 8 months ago

Adani Group firms dollar bonds rise as group considers partial buyback of debt securities

India Today  

The U.S. dollar-denominated bonds issued by entities of India's Adani Group were trading marginally higher on Thursday, after a group company said it will consider a buyback of securities. On Wednesday, Adani Ports and Special Economic Zone, part of the beleaguered Adani Group, said it will consider its first and a partial buyback of certain of the company's debt securities …

Adani looks at Pimco, BlackRock, Blackstone for potential private bond placement
1 year, 8 months ago

Adani looks at Pimco, BlackRock, Blackstone for potential private bond placement

Live Mint  

Adani Group executives met US investors, including from BlackRock Inc., Blackstone Inc. and Pacific Investment Management Co., as part of its plans to market privately placed bonds for some of its group companies, according to people familiar with the matter. Bloomberg first reported in February that Adani Group is considering offering privately placed bonds for at least three of its …

Fitch Ratings raises concerns over governance weaknesses at Adani Group entities
1 year, 8 months ago

Fitch Ratings raises concerns over governance weaknesses at Adani Group entities

Live Mint  

Mumbai: Fitch Ratings has said that Adani Transmission and Adani Ports and Special Economic Zone are vulnerable to “higher contagion risks” due to governance weakness at sponsor level and other Adani group entities. As of the end of December 2022, most of the senior debt at the Adani group's rated Indian entities was offshore and largely secured, with US dollar …

Adani repays $2.65 bn debt, releases Ambuja Cem share pledge
1 year, 9 months ago

Adani repays $2.65 bn debt, releases Ambuja Cem share pledge

Live Mint  

Billionaire Gautam Adani has fully repaid $2.15 billion of margin-linked, share-backed funding before its target 31 March deadline, the company said on Sunday. Additionally, Adani also prepaid a $500 million loan facility for acquiring Ambuja Cements Ltd, taking the total prepayment by the Adani family to $2.65 billion. “Adani continues to increase equity in Ambuja financing by prepaying $500 million …

'All share-backed loans paid back': Adani tells investors
1 year, 9 months ago

'All share-backed loans paid back': Adani tells investors

Hindustan Times  

Indian billionaire Gautam Adani and his family have prepaid all borrowings backed by his conglomerate Adani Group's shares, senior executives told investors at a meeting in London, Bloomberg News reported on Wednesday, citing people who attended the meeting. Adani's efforts to rebuild investor confidence comes as the group seeks to allay concerns about its debt by pre-paying loans. Adani's efforts …

Adani group repays $500 million bridge loan to regain investor faith: Report
1 year, 9 months ago

Adani group repays $500 million bridge loan to regain investor faith: Report

Hindustan Times  

The Adani Group has repaid a $500 million bridge loan due Thursday, according to people with knowledge of the matter, adding to a slew of other payments as the Indian conglomerate works to restore confidence in its financial health after a scathing short seller report. Adani: Billionaire Gautam Adani has since pre-paid about $2 billion of share-backed loans, The money …

Adani has $2 bn bonds due for repayment in 2024
1 year, 9 months ago

Adani has $2 bn bonds due for repayment in 2024

Deccan Chronicle  

New Delhi: The Adani group, whose mostly debt-fueled breakneck expansion saw gross debt doubling in four years, has almost USD 2 billion worth of foreign-currency bonds coming up for repayment in 2024, according to a presentation the conglomerate made to investors. The apples-to-airport conglomerate borrowed over USD 10 billion in foreign currency bonds between July 2015 and 2022 across group …

Adani Group secures $3 billion loan from sovereign wealth fund: Report
1 year, 9 months ago

Adani Group secures $3 billion loan from sovereign wealth fund: Report

Hindustan Times  

India's Adani Group has told creditors it has secured a $3 billion loan from a sovereign wealth fund, two sources with knowledge of the matter said, as the embattled conglomerate seeks to ease debt concerns after a short-seller attack. The credit line from the sovereign wealth fund could be increased to $5 billion, the sources said, citing a memo that …

Adani Group overleveraged, carries 3x as much debt as it should: Damodaran
1 year, 9 months ago

Adani Group overleveraged, carries 3x as much debt as it should: Damodaran

Live Mint  

The Adani Group carries three times as much debt as it should, Aswath Damodaran, whose work has been widely published in leading finance journals, said in his blog post. “The Adani Group collectively carries about three times as much debt as it should, confirming that the group is over-levered, but note that this is bad business practice, not a con,” …

Adani group firm repays ₹1,500 cr. in comeback strategy
1 year, 10 months ago

Adani group firm repays ₹1,500 cr. in comeback strategy

The Hindu  

Adani group firm Adani Ports & SEZ paid ₹1,500-crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by U.S.-based Hindenburg Research. Adani Ports and SEZ paid SBI Mutual Funds’ due amount of ₹1,500 crore on Monday and will also pay another ₹1,000 crore of commercial papers …

Adani group says no refinancing issues in bid to calm jittery investors
1 year, 10 months ago

Adani group says no refinancing issues in bid to calm jittery investors

Hindustan Times  

Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller's critical report on its business practices. In a long-awaited credit report issued by Adani to Indian exchanges on Tuesday, the apples-to-airports group said there was "no material refinancing risk and near-term …

Adani Group likely to repay short-term commercial paper borrowings: Bankers
1 year, 10 months ago

Adani Group likely to repay short-term commercial paper borrowings: Bankers

The Hindu  

Two large companies within the embattled Adani Group are likely to repay their short-term commercial paper debt as they come due over the next few months, instead of rolling them over as is normal, two merchant bankers and a company official directly familiar with the matter said. The two group companies have about ₹50 billion worth of CP due to …

Adani soothes investors, says group’s plans on track
1 year, 10 months ago

Adani soothes investors, says group’s plans on track

The Hindu  

Amidst continuing slide in its stocks, the embattled Adani Group sought to assure that the group entities have “cash generating assets” and its “plans are on track” ruling out that the current market rout of its listed companies have derailed their plans. The group’s 10 listed entities declined on Monday by 3 to 7% while the shares of the six …

Tight liquidity makes Adani dollar bonds a tough buy or sell
1 year, 10 months ago

Tight liquidity makes Adani dollar bonds a tough buy or sell

The Hindu  

Some investors planning to take advantage of recent price swings in dollar bonds issued by India's troubled Adani Group are struggling to find counterparties, which is preventing them from buying more paper or betting on further drops in value. Dollar bonds issued by Adani Group entities fell sharply after short seller Hindenburg Research published a report on January 24 accusing …

The Adani cloud over India
1 year, 10 months ago

The Adani cloud over India

Al Jazeera  

The recent set of allegations have raised questions about the tycoon’s meteoric rise and the role of regulators. The report, titled Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History, said the group was involved in “brazen stock manipulation and accounting fraud”. Hindenburg’s report came just as the 200 billion rupees follow-on public …

Adani Group faced margin call on $1.1 billion loan before repaying in full
1 year, 10 months ago

Adani Group faced margin call on $1.1 billion loan before repaying in full

The Hindu  

Adani Group Chairman Gautam Adani faced a margin call of more than $500 million on a $1.1 billion share-backed loan, prompting him to repay the whole debt, the Financial Times reported, citing four people with direct knowledge of the matter. Adani Group also plans to prepay a $500 million loan due next month to a group of banks that includes …

Adani bonds worth $1 billion find buyers: Report
1 year, 10 months ago

Adani bonds worth $1 billion find buyers: Report

Live Mint  

In the days following the release of the Hindenburg report on January 24, a number of international special situation funds, including high-yield and distressed-debt experts, purchased sizable sums of foreign currency bonds from Adani Group companies. US hedge funds Baupost Group and Silver Point Capital, with varied maturities, are among the firms that have invested, and the majority of the …

Adani Enterprises shelves ₹10 billion bond plan amid row with Hindenburg
1 year, 10 months ago

Adani Enterprises shelves ₹10 billion bond plan amid row with Hindenburg

Live Mint  

Adani Enterprises Ltd has shelved a plan to raise as much as ₹10 billion via its first-ever public sale of bonds following a market rout, according to people familiar with the matter. The flagship firm of Indian billionaire Gautam Adani’s empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd., AK Capital, JM Financial, and …

NSE places Adani Groups stocks under additional surveillance framework
1 year, 10 months ago

NSE places Adani Groups stocks under additional surveillance framework

Op India  

On February 2, Thursday, India National Stock Exchange put Adani Enterprises, Adani Ports, and Ambuja Cements under Additional Surveillance Mechanism. Gautam Adani, Chairman, Adani Enterprises Ltd referred to the volatility in the stock over the last week and said the interest of the investors is paramount and to insulate them from any potential financial losses, the Board has decided not …

India’s Adani’s losses swell above $100bn
1 year, 10 months ago

India’s Adani’s losses swell above $100bn

Al Jazeera  

India’s central bank is examining the exposure of banks to the group as its various firms continued to tank. Adani’s market losses swelled above $100bn on Thursday, sparking worries about a potential systemic impact a day after the Indian group’s flagship firm abandoned its $2.5bn stock offering. India’s central bank has asked local banks for details of their exposure to …

Adani group saga is credibility test for India’s markets, institutions
1 year, 10 months ago

Adani group saga is credibility test for India’s markets, institutions

Live Mint  

The sprawling conglomerate built by Gautam Adani is under attack by short seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. U.S.-based Hindenburg Research, which last week said it held short positions in Adani Group through its US-traded debt and offshore derivatives, has accused the conglomerate of accounting fraud and stock manipulation through opaque offshore entities. On …

Hindenburg report on Adani merits JPC, SC-monitored probe even if…: Congress MP
1 year, 10 months ago

Hindenburg report on Adani merits JPC, SC-monitored probe even if…: Congress MP

Hindustan Times  

Day after US investor Hindenburg Research published report accusing firms owned by billionaire Gautam Adani of “brazen” market manipulation and accounting fraud, Congress MP Manish Tewari said even partial truth to the allegations merits probe by Joint Parliamentary Committee as well as a Supreme Court-monitored investigation. Short-seller Hindenburg Research, which has a track-record of finding corporate wrongdoings and placing bets …

Hindenburg welcomes Adani Group’s legal ‘threat’
1 year, 10 months ago

Hindenburg welcomes Adani Group’s legal ‘threat’

The Hindu  

A day after Hindenburg Research raised concern about the Adani Group’s “substantial debts”, the Gujarat-based conglomerate on Thursday said it was evaluating relevant provisions under the U.S. and Indian laws for remedial and punitive action against the U.S.-based short-seller. “We fully stand by our report and believe any legal action taken against us would be meritless.” Our response to Adani: …

Adani shares fall as short-seller Hindenburg Research flags its ‘substantial debt’
1 year, 10 months ago

Adani shares fall as short-seller Hindenburg Research flags its ‘substantial debt’

The Hindu  

Shares of the Adani group’s listed companies, including its recently acquired cement and media units, fell across the board on Wednesday with losses ranging from 1.5% to 8% in the wake of U.S. based short-seller Hindenburg Research raising concerns about the Gujarat-based conglomerate’s “substantial debt” that had put the entire group on a “precarious financial footing.” “Today we reveal the …

Adani Group stocks fall after Hindenburg takes short position
1 year, 11 months ago

Adani Group stocks fall after Hindenburg takes short position

Live Mint  

Hindenburg Research said on Wednesday it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments, sending shares of companies in the Indian conglomerate sliding. The short-seller said seven Adani listed companies have an 85% downside on a fundamental basis due to sky-high valuations and that "key listed Adani companies have also taken on substantial debt" …

Adani Group 'deeply overleveraged', may spiral into debt trap, default: Report
2 years, 4 months ago

Adani Group 'deeply overleveraged', may spiral into debt trap, default: Report

Hindustan Times  

Indian billionaire Gautam Adani’s ports-to-power conglomerate is “deeply overleveraged,” with the group investing aggressively across existing as well as new businesses, predominantly funded with debt, CreditSights, a Fitch Group unit, said in a report. Adani Group 'deeply overleveraged', may spiral into debt trap, default: Report The aggressive expansion pursued by the Adani Group, led by Asia’s richest person, has put …

Discover Related