Adani Ports to Buy Back Another USD 195 mn of Bonds

New Delhi: Adani Ports and Special Economic Zone will prepay USD 195 million of debt due in 2024 as the conglomerate helmed by Gautam Adani looks to boost investors’ confidence post being targeted by a US short-seller.

In a stock exchange filing, APSEZ said it will buy back USD 195 million of bonds due in 2024 using its cash reserves.

Out of the USD 520 million principal outstanding, USD 325 million will be left after the buyback, it said.