This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Indian Banks Said to be Reassessing Adani Group Exposure
November 29, 2024
Indian banks are said to be reassessing their exposure to the Adani Group following the allegations against its chairman and select senior management. This includes banks such as State Bank of India (SBI), Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank, and RBL Bank, that are reviewing their positions. This review aims to determine if tighter due diligence is needed for providing new loans to the group. However it may not lead to any significant changes in their credit approach, as per sources. Despite the review, banking sources stress that the situation does not warrant panic, as no bank is excessively exposed to the group. SBI, with the largest exposure of INR 338bn ($4bn) in sanctioned loans, will continue to fund ongoing Adani projects nearing completion but will exercise caution in loan disbursements, ensuring all terms are met.
Adani group companies’ dollar bonds were trading stable with its 4.375% 2029s at 87.27, yielding 7.72%
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
Adani Group In Talks for Up to $2.6bn Funding
February 20, 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.