Adani Pledge to Tackle Debt Deadlines Triggers Record Bond Jump
- Private placement could replace Adani Green Energy 2024 bonds
- Adani Group seeks to cut net debt to below 3x EBITDA next year
Adani Group headquarters in Ahmedabad, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
An Adani Group bond jumped the most on record Thursday after executives told investors they will address upcoming debt maturities, including by potentially offering private placement notes and using cash from operations.
The company’s management said it will come up with a plan to refinance Adani Green Energy Ltd.’s bonds due in 2024 by the end of June, according to people familiar with the matter. The bonds rallied 10 cents in their biggest daily rise since September 2021, when they were issued.