Adani Transmission will announce debt refinancing plans in a few weeks, executives said on Tuesday in an investor call, according to a source with direct knowledge of the matter.
The logo of the Adani group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Davewill announce debt refinancing plans in a few weeks, executives said on Tuesday in an investor call, according to a source with direct knowledge of the matter.
The company, a unit of embattled Indian conglomerate Adani Group, has no plans to raise additional debt for capital expenditure, which it plans to cover with operating cash inflows, the executives said, according to the source.to arrange calls with bond investors to reassure them about the payment capacity of its operating companies after it was caught up in a short-selling storm in recent weeks.
The calls come after a Jan. 24 report by Hindenburg Research that alleged the conglomerate improperly used offshore tax havens and manipulated stocks. The report also flagged concerns over its high debt levels.
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