Advertisement
Singapore markets close in 5 hours 42 minutes

  • Straits Times Index

    3,407.16
    -3.65 (-0.11%)
     

  • Nikkei

    40,999.80
    +87.43 (+0.21%)
     

  • Hang Seng

    17,581.10
    -218.51 (-1.23%)
     

  • FTSE 100

    8,203.93
    -37.33 (-0.45%)
     

  • Bitcoin USD

    55,163.67
    -2,813.17 (-4.85%)
     

  • CMC Crypto 200

    1,149.66
    -59.03 (-4.89%)
     

  • S&P 500

    5,567.19
    +30.17 (+0.54%)
     

  • Dow

    39,375.87
    +67.87 (+0.17%)
     

  • Nasdaq

    18,352.76
    +164.46 (+0.90%)
     

  • Gold

    2,390.20
    -7.50 (-0.31%)
     

  • Crude Oil

    82.79
    -0.37 (-0.44%)
     

  • 10-Yr Bond

    4.2720
    -0.0830 (-1.91%)
     

  • FTSE Bursa Malaysia

    1,611.02
    -5.73 (-0.35%)
     

  • Jakarta Composite Index

    7,241.46
    -11.92 (-0.16%)
     

  • PSE Index

    6,525.02
    +32.27 (+0.50%)
     

Adani Ports offers to buy back up to $195 million of 2024 bond

Reuters
·1-min read
An inauguration ceremony after the Adani Group completed the purchase of Haifa Port

(Reuters) - Adani Ports and Special Economic Zone will buy back as much as $195 million of its 2024 bond, the billionaire Gautam Adani-led company said in an exchange filing on Wednesday.

Adani Ports had started a buyback program of some debt securities in April to prepay part of its near-term loans due next year.

Earlier this year, the ports and logistics company had floated a tender of up to $130 million as it tried to boost investor confidence after the group's shares were hit by a U.S. short-seller's report in January.

The company has said it plans to keep buying the outstanding notes over the next three quarters for cash.

ADVERTISEMENT

The Adani-led group's seven-listed stocks have lost over $100 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. The group denied all allegations.

(Reporting by Kanjyik Ghosh and Varun Vyas in Bengaluru; Editing by Subhranshu Sahu)