Adani Green Energy Ltd., part of billionaire Gautam Adanis empire, will redeem the notes in full by its Sept. 8 due date, it said in a filing to Singapores stock exchange. The bonds underwriters will provide a funding letter for $675 million and the company will use equity transaction proceeds to build up the repayment sum, it added.
Adani Group stocks have been in focus ever since Hindenburg Research released its scathing report. Its debt has been flagged as well. Take a look at how Adani Group companies net debt has ballooned.
Adani group's seven-listed stocks have lost about $114 billion in market value since a January 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation.