The Adani Group does not plan to refinance debts or inject capital from its two day road show in Hong Kong.
The Indian conglomerate’s chief financial officer, Jugeshinder Singh told Bloomberg that, “No, we don’t have anything major at all.” “There’s no transactions,” when he was asked, “Are you looking to refinance any debt?”
The two day road show in Hong Kong will take place today, February 28, 2023. This roadshow in Hong Kong follows a series of investor meetings on February 27, 2023 in Singapore. Executives there said that the Indian conglomerate has sufficient money to repay debts due over the next three years in addition to an $800 million credit facility.
The Adani Group has been under constant pressure since the release of the Hindenburg Research report on January 24, 2023.
The group’s at least 15 dollar bonds have rebounded from recent lows, they are still about 5% to 18% lower than where they were before report’s release, amounting to a combined loss of about $800 million.