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Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Tuesday that it would pay $130 million of its debt early, after nearly $413 million worth of debt has been tendered for early payment.
Adani Ports had floated a tender of up to $130 million of 3.375 per cent 2024 maturity dollar-denominated bonds late last month, as it seeks to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report.
Led by billionaire businessman Gautam Adani, the group's seven-listed stocks have lost about $114 billion in market value since a January 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. The group denied all allegations.
Pick-up in April traffic
PTI adds: Adani Ports on May 4 reported highest-ever monthly cargo volume in April on the back of increased movement of containers and higher shipments of iron ore and coal to support a fast expanding economy.
“Adani Ports and Special Economic Zone Ltd (APSEZ) handled 32.3 million tonnes of total cargo in April. up 12.8 per cent over the same month last year,” the company said in a statement.
This growth in cargo volumes is supported by dry cargo volumes increase of 9 per cent (iron ore, non-coking coal and coastal coal) and container volume increase of 13.6 per cent.
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