Adani Ports and Special Economic Zone’s board will meet on April 22 to consider a partial buyback of of its bonds, according to an exchange filing. It said that it was looking to buy back bonds denominated in INR or USD in the current financial year ending March 2024, subject to market conditions. The management of Adani Ports & SEZ is confident that the issuer can repay the July 2024 bonds from cash in hand and operating cashflow generation, CreditSights said in a note on April 14.
Adani Ports & SEZ’s 3.375% bonds due July 2024s were trading stable at 94.6, yielding 8.02%.
