NEW YORK : India's Adani Group will hold a fixed-income roadshow next week in Asia, according to a bank document seen by Reuters, as the beleaguered conglomerate tries to shore up investor confidence in the aftermath of a U.S. short-seller report.Adani group executives, including group Chief Financial Off
NEW YORK : India's Adani Group will hold a fixed-income roadshow next week in Asia, according to a bank document seen by Reuters, as the beleaguered conglomerate tries to shore up investor confidence in the aftermath of a U.S. short-seller report.
Adani group executives, including group Chief Financial Officer Jugeshinder Singh, will attend the roadshows in Singapore on Feb. 27, and Hong Kong on Feb. 28 and March 1, the document showed. Seven listed companies of the group led by billionaire Gautam Adani have lost over $140 billion in market value since a Jan. 24 report by Hindenburg Research alleged the group improperly used offshore tax havens and manipulated stock, and flagged concerns over its high debt levels.Dollar bonds of Adani Group were largely trading lower on Friday. Bonds of Adani Ports maturing in February 2031 led the losses, while some notes of Adani Green Energy were marginally higher.
Adani has already held calls with bondholders earlier this month in attempts to assuage investor concerns, where group executives revealed refinancing plans at some of its units and also plans to completely pre-pay all loans against shares. Barclays, BNP Paribas, DBS Bank, Deutsche Bank, Emirates NBD Capital, ING, IMI-Intesa Sanpaolo, MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank are the banks organising next week's roadshow, according to the document.
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