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Adani Ports will buyback its $195 million bond, will repay the loan ahead of time
Adani Ports and Special Economic Zone (APSEZ) plans to repay the loan before the due date. APSEG said the company will soon repay $195 million of debt due in 2024 to rebuild investor confidence following the Hindenburg report. The company said that out of the original outstanding of US $ 520 million, $ 325 million will be left after this buyback.
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“Adani Ports will buyback its $195 million bond, will repay the loan ahead of time”
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en.sangritimes.com
27 Sep 2023
Adani Group's Adani Ports and Special Economic Zone (APSEZ) will repay its loan ahead of schedule. APSEG said the company will soon repay its US$195 million loan due in 2024, which will boost investor confidence after the Hindenburg report.
In a stock exchange filing, APSEZ said the company will use its cash reserves to buy back US$195 million of bonds due in 2024. The company said that out of the original outstanding of US$520 million, US$325 million will remain after the buyback.
In May this year also, the company bought back the July 2024 bonds for a total of US $ 130 million of the principal amount in cash and had said that it would buy back 20 percent of the principal amount of the bonds in each of the next four quarters.
