Banks are holding meetings with fixed income investors from next week Adani GroupAdani Green Energy and Adani Transmission.
The calls are scheduled for February 16 and February 21, according to a person familiar with the matter.
Barclays plc, BNP Paribas SA, DBS Bank, Deutsche Bank AG, Emirates NBD Capital, ING Group NV, MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank are organizing the call. It is not clear what will be discussed during the meetings.
The debt pile of the Adani group companies has drawn attention after a scathing report by short seller Hindenburg Research wiped off over $120 billion of the empire’s market value.
At least 200 financial institutions around the world – including those like the world’s largest asset manager BlackRock – had investments in Adani Group’s $8 billion worth of bonds, most of them in distress after allegations of short-seller fraud which caused financial turmoil.
The long list of funds with exposure to Adani’s debt underscores how much demand there was to invest in the group before short-seller reports caused its stock and bonds to fall.
To restore confidence in the group’s financial health, the billionaire Gautam Adani is negotiating with creditors to prepay certain debts backed by pledged shares.
His flagship firm, Adani Enterprises, which is based in the tycoon’s home city of Ahmedabad in western India, on Tuesday reported a net income of Rs 820 crore ($99.1 million) for the quarter ended December 31, while a profit of Rs 11.63 crore in the same The damage was done. last year’s period.
Adani group companies said in a stock exchange filing that it does not face any material refinancing risk and has no near-term liquidity needs. The company also does not have any significant debt maturing in the near term.
There weren’t enough brokerages tracking the company to get an average profit forecast.
The calls are scheduled for February 16 and February 21, according to a person familiar with the matter.
Barclays plc, BNP Paribas SA, DBS Bank, Deutsche Bank AG, Emirates NBD Capital, ING Group NV, MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank are organizing the call. It is not clear what will be discussed during the meetings.
The debt pile of the Adani group companies has drawn attention after a scathing report by short seller Hindenburg Research wiped off over $120 billion of the empire’s market value.
At least 200 financial institutions around the world – including those like the world’s largest asset manager BlackRock – had investments in Adani Group’s $8 billion worth of bonds, most of them in distress after allegations of short-seller fraud which caused financial turmoil.
The long list of funds with exposure to Adani’s debt underscores how much demand there was to invest in the group before short-seller reports caused its stock and bonds to fall.
To restore confidence in the group’s financial health, the billionaire Gautam Adani is negotiating with creditors to prepay certain debts backed by pledged shares.
His flagship firm, Adani Enterprises, which is based in the tycoon’s home city of Ahmedabad in western India, on Tuesday reported a net income of Rs 820 crore ($99.1 million) for the quarter ended December 31, while a profit of Rs 11.63 crore in the same The damage was done. last year’s period.
Adani group companies said in a stock exchange filing that it does not face any material refinancing risk and has no near-term liquidity needs. The company also does not have any significant debt maturing in the near term.
There weren’t enough brokerages tracking the company to get an average profit forecast.