This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Adani Group Plans to Cut Leverage; No Dollar Bond Issuance Until 2027
September 23, 2025
Adani Group plans to reduce its leverage over the next five years, with no intention of issuing offshore bonds until 2027. Their CFO sai that the next foreign currency bond sale will likely be a dollar bond, adding that domestic issuances will continue. Adani Group aims to pare down leverage until 2030 to levels similar to utilities in OECD countries. Bloomberg notes that the move is likely a response to the widened bond spreads following the Hindenburg allegations and a US DOJ investigation, which the group has categorically denied. Adani Group’s leverage has already decreased, with the net debt-to-EBITDA ratio falling from 3.81x to 2.63x over the past three years. Despite a recent rise in net debt to $26.9bn, faster earnings growth has helped reduce the overall leverage, Bloomberg noted. However, the group emphasized the need to balance deleveraging efforts with its capex plans, that include spending between $15-20bn annually over the next five years. Last year, the group said that it would invest $10bn in US energy security and infrastructure projects. Regarding this, the CFO stated that there would be no need to borrow in order to finance this investment, as it would be within the group’s ‘cash envelope’.
Adani Ports’ dollar notes were trading weaker with its 3.1% 2031s at 89.3, yielding 5.4%.
For more details, click here
Go back to Latest bond Market News
Related Posts:Adani Dollar Bond Issuance Scrapped; Dollar Bonds Drop
November 21, 2024
Indian Banks Said to be Reassessing Adani Group Exposure
November 29, 2024
Adani Planning to Revive Dollar Bond Issuance in 2025
December 2, 2024
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.