Adani has $2 bn bonds due for repayment in 2024
The Adani group, whose mostly debt-fueled breakneck expansion saw gross debt doubling in four years, has almost USD 2 billion worth of foreign-currency bonds coming up for repayment in 2024, according to a presentation the conglomerate made to investors.
The apples-to-airport conglomerate borrowed over USD 10 billion in foreign currency bonds between July 2015 and 2022 across group companies. Of this, USD 1.15 billion of bonds matured in 2020 and 2022.
There are no maturities in 2023 but three issuances – USD 650 million by the ports arm APSEZ and two of renewable energy unit Adani Green Energy Ltd (USD 750 million and and USD 500 million – are due for payment in 2024.
