Executives of the Adani Group informed investors in a call that they are seeking to cut the group’s net debt to below three times EBITDA next year, from a current 3.2 times. To repay debt, the group is considering refinancing with long-term private placement notes with a potential maturity of 15 years. The management also said that $390 million of debt coming due over the next 12 months at the Adani Transmission Step-One Ltd will be repaid using cash from operations. The Adani Green Energy notes are currently quoted at around 86 cents on the dollar, having jumped by about eight points following the refinancing news from the call.
Adani Group to Refinance Debt with Private Placement Notes
Executives of the Adani Group told investors in a call that they will address deadlines to repay debt with options including private placement notes and cash from operations. The debt will likely be refinanced with long-term private placement notes, with a potential maturity of 15 years.
Latest from Blog
Doctors in the Upstate are conducting clinical trials on a cancer immunology vaccine that has the
A tiny fragment from the most dangerous asteroid in the solar system has arrived in the
Scientists have discovered a planet that is way too big for its tiny star. Its existence
No. 4 Florida State is aiming to win their 16th conference championship, taking on No. 14
Prince Harry and Meghan have been left off the guest list for the high society wedding
