As the Hindenburg report issue continues, the Gautam Adani-led Adani Group may now reportedly disclose its refinancing plans for one of its subsidiaries. Latest updates suggest that the group may announce Adani Green’s refinancing plans after the fiscal ends.
According to a Reuters report, the under the cosh conglomerate, Adani Group, on Thursday, told its bondholders about Adani Green Energy’s refinancing plan over a call. In order to execute this, the group has also reportedly hired banks to arrange calls with bond investors in the aftermath of Hindenburg havoc.
The report adds that several banks are also setting up meetings with fixed-income investors on behalf of the Adani Group’s Adani Green Energy and Adani Transmission. While the calls are reportedly scheduled for February 16 and February 21, major banks are expected to organise it.
Among those that are organising the calls, as reported, include, Barclays Plc, BNP Paribas SA, DBS Bank Ltd, Deutsche Bank AG, Standard Chartered Bank, Emirates NBD Capital, Mizuho and so on.
If the plan goes as reported then as per report(s), Adani Green Energy Limited Restricted Group may take up the task of refinancing existing bonds through a 15-year amortizing private placement.
Adani Group companies have been facing different problems on several fronts ever since the scathing Hindenburg Research report alleged fraud by the Indian conglomerate. While the group refuted all such claims, the ripple effects of the allegations were seen on several fronts for the group.