Adani Ports’ Bonds With Coupons Due Today Now Yield 10%
- Adani Ports is scheduled to repay $24.7 million in interest
- Bonds are caught up in widespread rout across Adani empire
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Investors anxious over billionaire Gautam Adani’s business empire have sent some of his companies’ bond yields above 10%, a milestone typically reserved for junk-rated debt.
Adani Ports & Special Economic Zone Ltd., which is scheduled to pay a total of $24.7 million in interest on three dollar bonds today, has seen yields on two of the notes soar into double digits, according to prices compiled by Bloomberg. All three of the bonds are being quoted at around 63 cents on the dollar, well into distressed territory.