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Adani Port Debt: After the attack of Hindenburg, Adani Group is now seen in the mood of recovery. Adani Port and Special Economic Zone has said on Tuesday that it will repay the loan of $ 130 million very soon. At the same time, the company has offered to repay the debt of $ 413 million ahead of time.
The company had last month issued a tender of $130 million of dollar denomination of 3.375 per cent maturing in 2024. The company said it had launched a cash tender offer of up to $130 million in 2024 at a total price of 3.375 per cent outstanding.
Adani Port gave indications last month
Adani Port said last month that after the successful tender of up to $130 million, $520,000,000 is expected to be outstanding. After this tender, the company wants to offer to buy the balance of about 130,000,000 in cash in the next four quarters.
What is the plan of the company
Adani Port wants to recover the loss caused by Hindenburg Research report by repaying this loan. Adani Group also wants to win the confidence of investors and want to assure that they can invest in the company. Let us tell you that after the Hindenburg report, the shares of Adani Port fell sharply.
Loss of $ 114 billion in market cap
After the Hindenburg report came out on January 24, there has been a loss of about $ 114 billion in the market cap of the seven listed stocks of Adani Group. The report accused billionaire Gautam Adani’s company of fraud, stock manipulation and other financial irregularities. Although the company has denied all these allegations.
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