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Bond Market News
Adani’s Bonds Trend Higher After US Pauses FCPA Enforcement
February 13, 2025
Adani’s bonds have risen by ~2 points this week after US President Donald Trump signed an executive order to pause enforcement of the Foreign Corrupt Practices Act (FCPA), which prohibits US and foreign firms from bribing officials of foreign governments to obtain business. Under the new executive order, US Attorney General Pamela Bondi will review past investigations and enforcement actions related to the FCPA. Separately, six Republican congressmen wrote on Monday to Ms. Bondi, depicting the Biden administration’s move to indict Adani executives in November 2024 as a “misguided crusade” and claiming that it “jeopardizes the relationship with close ally India”. However, it is unclear how the pause in enforcement of the FCPA would affect Adani’s case.
Adani Green’s 6.7% 2042s was up by 1.5 points in the week and currently trades at 91.6, yielding 7.84%.
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