Most Adani Group dollar bonds exit distressed levels on debt promises

Among the gainers were Adani Electricity Mumbai's dollar 2031 notes, which rose 0.7 cent to 72 cents as of 1.07 pm in Hong Kong

Adani, Adani Group
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Photo: Bloomberg

Bloomberg
Most Adani group dollar bonds have climbed further out of distress after the conglomerate said it will address upcoming maturities, the latest boost to investor sentiment following an initial rout sparked by a US short-seller report.
 
Among the gainers were Adani Electricity Mumbai’s dollar 2031 notes, which rose 0.7 cent to 72 cents as of 1.07 pm in Hong Kong. Just three of 15 Adani Group US currency notes are below the 70 cents on the dollar level that’s generally considered as being distressed. Most Adani-linked shares advanced as well on Friday.
 
The rebound in the bonds indicates

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First Published: Feb 17 2023 | 11:17 PM IST

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