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 Looking to Raise $10bn in 2023
October 25, 2022
Adani Group is seeking a $10bn debt raise over the next year by issuing offshore and green bonds. The Indian conglomerate aims to raise $6bn to refinance its existing high-cost borrowings with lower-cost ones and the remaining $4bn will be raised to fund future projects. This move is aimed at reducing its overall debt obligations from repayments as Adani has aggressively expanded through acquisitions across multiple industries such as renewable energy, digital services and media. Its debt burden has been a growing concern for analysts, most notably for CreditSights which takes the view that Adani “has an elevated leverage at present, and is likely to remain so in the coming years”.
Adani’s 4.25% 2036s are trading lower at 72.3 cents on the dollar, down by 0.44 points to yield 7.52%.
Go back to Latest bond Market News
Related Posts:
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.