Adani Group dollar bonds rallied on Friday as billionaire Gautam Adani was said to be in talks with creditors to prepay some loans in a bid to restore confidence in his business empire.
The notes also pared losses from earlier in the week as Goldman Sachs Group Inc. and JPMorgan Chase & Co. told some clients that Adani bonds can offer value due to the strength of certain assets. Adani debt has hit a floor in the short term, Goldman Sachs trading executives said in a call Thursday, according to people with knowledge of the matter.
All 15 dollar debt securities of the group advanced on Friday, partly helped by news that Adani Ports & Special Economic Zone Ltd. had made coupon payments on schedule
