Most of Adani’s bonds are up after the $2.5 billion sale of the group’s shares

Most of Adani’s bonds are up after the $2.5 billion sale of the group’s shares
Most dollar bonds issued by promise me The group of companies posted gains for a second day on Wednesday after the parent company sold $2.5 billion worth of shares in a fully subscribed follow-up offering.
Note 2024 of Adani for green energy Ltd. It gained nearly 5 cents on the dollar, reaching 80.9 cents as of 9:35 a.m. on Monday. Hong Kong, recovering from the recession to a record low earlier this week. Eleven of the 15 dollar-denominated bonds by the group tracked by Bloomberg were also higher.
Offer from leading company Adani Enterprises Ltd. It was India’s largest stock sale, and was fully subscribed on the last day. This may help ease investor concerns Adani faces after allegations of fraud from short sellers Hindenburg Research Send the group into turmoil.
The conglomerate, which is backed by Asia’s richest person, put up millions of dollars in shares to maintain collateral cover for a $1 billion loan after a sharp sell-off in shares across the business empire, according to people familiar with the matter.
However, even after the rally, the yield on the 2024 Adani Green Energy bond is still close to 20%. The group may struggle to tap into the bond market in the near term, given concerns about governance, according to a report by Bloomberg Intelligence.

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