Adani group plans $650-m foreign currency bond buyback at APSEZ

Adani Group is planning to use internal accruals to buy back foreign currency bonds, starting with a $650m tranche at Adani Ports and Special Economic Zone. The conglomerate is also evaluating bond buyback opportunities at other entities and is due to finalise a capital allocation plan. It is estimated that foreign currency bonds represent 39% of the group's total debt. APSEZ said its board had approved a tender offer for its outstanding senior notes due 2024.

Adani group plans $650-m foreign currency bond buyback at APSEZ
Adani Group is planning to use internal accruals to buy back foreign currency bonds, starting with a $650m tranche at Adani Ports and Special Economic Zone. The conglomerate is also evaluating bond buyback opportunities at other entities and is due to finalise a capital allocation plan. It is estimated that foreign currency bonds represent 39% of the group's total debt. APSEZ said its board had approved a tender offer for its outstanding senior notes due 2024.