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Adani Group aims to tackle debt deadlines with cash, private notes

The management said on the call it was seeking to cut the group's net debt to below three times Ebitda (earnings before interest, taxes, depreciation, and amortization) next year

Adani, Adani Group
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Giulia Morpurgo, Priscila Azevedo Rocha & Archana Narayanan | Bloomberg
Executives of the embattled Adani group told investors in a call on Thursday that they would address deadlines to repay debt with options including private placement notes and cash from operations.
 
The management will come up with a plan to refinance Adani Green Energy’s bonds due in 2024 by the end of June, according to people familiar with the matter. The bonds rallied the most ever after the comments.
 
The debt will likely be refinanced with long-term private placement notes, with a potential maturity of 15 years, said the people, who spoke to Bloomberg on the condition of anonymity.
 
Bloomberg

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First Published: Feb 16 2023 | 9:24 PM IST

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