Adani Ports and Special Economic Zone, Adani Group’s group company, will pay off $130 million of its debt ahead of schedule.
This move comes after investors tendered almost $413 million of debt for early payment.
In late April, Adani Ports offered up to $130 million of 3.375 percent 2024 maturity dollar-denominated bonds to restore investor confidence.
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It was after the Adani Group’s stocks plummeted due to allegations of improper use of offshore tax havens and stock manipulation by a US short-seller, Hindenburg Research.
Since January 24, when the report was released, the Adani Group’s seven-listed stocks have lost around $114 billion in market value.
The group has denied all allegations.
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