The refinancing plan for Adani Green's $500 million Dec. 10, 2024 bond, dated Dec. 8, fulfills a requirement laid out in the terms of the note
"Traders didn't really believe in the hot PPI for September until CPI yesterday reinforced it," Helen Given, FX Trader at Monex USA, said
The outstanding for this bond stands at $520 million, according to data from LSEG
The company, part of the conglomerate backed by billionaire Gautam Adani, said it would fund the purchase from its cash reserves, according to a statement on Wednesday
The rupee depreciated 6 paise to 82.81 against the US dollar in early trade on Tuesday as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments. Forex traders said the rupee is trading lower on strong dollar and foreign fund outflows over the past few days. At the interbank foreign exchange, the domestic unit opened at 82.80, then touched 82.81, registering a decline of 6 paise over its last close as the RBI monetary policy committee meeting begins on Tuesday. The policy decision will be announced on Thursday. On Monday, the rupee had settled 6 paise higher at 82.75 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.28 per cent to 102.33. Brent crude futures, the global oil benchmark, rose 0.12 per cent to USD 85.44 per barrel. Rupee is trading in a narrow range and volatility remained low ahead of the RBI policy statement that is scheduled to release later this
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
In an approximately 100-page report, Hindenburg Research alleges a web of Adani-family controlled offshore shell entities in tax havens, in the Caribbean, Mauritius and the United Arab Emirates
Lender claims to be the first to offer these products in GIFT City
A sudden resignation by the founder and chairwoman of a top Chinese builder has added to concerns over China's ailing property sector, fueling a further selloff
Spot gold fell for a fifth straight session, down 0.3% at $1,753.84 per ounce, which could be its longest losing streak since November 2021
Dollar has reached a four-week high as compared to other currencies amid inflation concerns. Moreover, government selloffs were extended and stocks took a beating globally.
Financial market upheaval following Russia's invasion of Ukraine puts deal on hold.
$6 bn raised so far in 2022; next few months will be quiet, say market participants
Next interest payment deadline comes due in a week's time
Special accounts set up to oversee, review fund use of debt-laden firm
Evergrande, China's biggest property developer, ran into trouble over the past few months as Beijing tightened regulations in its property sector.
In the current calendar year alone, Indian companies raised $4.6 bn from these markets so far
The company will use the proceeds of the proposed notes to subscribe to Indian rupee-denominated external commercial borrowing (INR ECB) bonds
Source says talks with firm are currently focused on structure of offering and seeking necessary approvals from RBI. Issue will be launched as early as this month
A term sheet for Singapore Airlines' first US dollar bond has been circulated by bookrunners for the potential issue, and calls were being held with prospective investors on Monday