Adani Group Returns to Dollar Bonds After Hindenburg

  • Adani Group, led by billionaire Gautam Adani, is reportedly seeking to issue its first dollar bond since facing allegations from short seller Hindenburg Research in January 2023.
  • The group is marketing a $409 million bond, with an 18-year maturity and initial price guidance in the 7.125% range.
  • This move signifies a potential return to the overseas capital market after the Hindenburg report triggered significant stock and bond price declines.
  • Early signs are positive, with order books exceeding $1 billion and analysts expecting strong demand for the bond, suggesting the company may not face significantly higher borrowing costs.
  • The successful issuance of this bond could be seen as a positive step for Adani Group in rebuilding investor confidence and financial stability after the Hindenburg controversy.

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