by Amruth Sundarkumar | Aug 10, 2021 | India, Investment Grade Bonds
Indian renewable energy company Adani Green Energy (AGEL) is planning a public bond issuance via offshore bonds with 3Y to 7Y tenors in the following two weeks, as per Economic Times. The company appointed Barclays, MUFG, DBS Bank, Standard Chartered, and Mizuho as...
by Amruth Sundarkumar | Aug 9, 2021 | High Yield Bonds, India
India’s Supreme Court upheld the Singapore Emergency Arbitrator (EA) award, halting Future Retail’s $3.4bn deal with Reliance Retail, and thereby ruling in favour of Amazon. Amazon filed their first plea against the deal in October 2020 with the Singapore Arbitrator...
by Amruth Sundarkumar | Aug 9, 2021 | High Yield Bonds, India
Indiabulls Housing Finance announced its earnings late last week, posting a 3.3% growth in profits to INR 2.82bn ($38mn). It’s net interest income rose to INR 7.65bn (103mn) and cost of funds eased by 20bp to 8.4%. Gross non-performing assets (GNPA) rose to...
by Amruth Sundarkumar | Aug 5, 2021 | High Yield Bonds, India
Adani Ports and Special Economic Zone Ltd. (APSEZ), the largest transport utility in India and a part of the diversified Adani Group reported the highest ever YoY quarterly volume growth of 83% with EBITDA growth of 82% in the quarter ended June. The company reported...
by Amruth Sundarkumar | Aug 4, 2021 | Credit Ratings, High Yield Bonds, India
India’s leading steel producer Tata Steel Ltd. and its subsidiary ABJA Investment Co. along with its senior unsecured notes have been upgraded to BB from BB- with a stable outlook by S&P based on the company’s strong operating cash flows and its...
by Amruth Sundarkumar | Aug 2, 2021 | High Yield Bonds, India
Moody’s has revised the outlook of Adani Group’s North Queensland Export Terminal Pty Ltd (NQXT) while affirming the Ba2 senior secured ratings reflecting the rising refinancing risk associated with NQXT’s $500mn 4.45% 2022s issued under Adani Abbot...
