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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Adani investors should push for bond buybacks: Analysts
Adani Green Energy (AGEL) refinanced a $1.06 billion construction facility which was due March 2025, bond analysts are recommending that investors suggest targeted bond buybacks to the Adani Group to reduce risk and manage the large volume of debt coming due.
The new facility is reportedly borrowed at a weighted life of 19 years, and now carries a funding cost of 9.2%. The loan it refinanced was taken in 2021 to develop wind-solar hybrid projects.
«While the successful outcome of AGEL's loan refinancing is well expected by the market, the lower cost of AGEL's debt refinancing is an encouraging read for the group's recent developments,» Nomura wrote in its latest credit report. «We recommend investors to provide suggestions to the Adani Group to conduct bond buybacks for facilitating the Adani risk recycling and addressing the bond maturity wall across the Adani complex,» it said.
On the ongoing US regulatory developments as well as long-running investigations under the Foreign Corrupt Practices Act (FCAP) and other enforcement actions involving AGEL, analysts said recent shifts in the US are positive, especially the Trump administration's February 25 executive order directing the Department of Justice to pause FCPA enforcement until new guidelines are issued.
The Adani Group's US dollar bonds have rebound following a positive update by Fitch Ratings. The Adani Green 4.625% 2039 and 6.2% 2042 bonds have moved up 2 basis points after the update.
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After Adani Green's construction facility of $1.06
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UPS
Art
Booking
wellness
film
How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
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21.05 / 10:17
markets
UPS
IPO
NVIDIA
SpaceX
Even at $5 trillion, Nvidia is underappreciated
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21.05 / 10:17
markets
Digital
CEO
War
Omnicom
RK Swamy bets on integrated advertising model as global agency giants split media and creative
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markets
IPO
Racing
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SpaceX
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21.05 / 09:47
markets
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trends
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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markets
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
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