Adani Dollar Bonds Rally From Record Lows After UAE Royal Boost - Bloomberg
Markets

Adani Dollar Bonds Rally From Record Lows After UAE Royal Boost

  • Adani Ports’ 2032 note climbs 3.4 cents, most in 3 days
  • Follow-on share sale at Adani Enterprises set to close Tuesday
WATCH: The Hindenburg report on Adani Group has opened a Pandora’s Box on India, says Bloomberg Opinion columnist Shuli Ren.Source: Bloomberg
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Adani Group companies rebounded in the dollar bond market after some dropped to record lows the day before, following a vote of confidence in the Indian conglomerate from Abu Dhabi’s International Holding Co.

A note from one of the group’s key units, Adani Ports & Special Economic Zone Ltd., rose 3.4 cents on the dollar to 68.8 cents as of 9:47 a.m. in Hong Kong. That pares its drop since US-based short seller Hindenburg Research last week alleged “accounting fraud” at Adani group to about 10 cents. At least five other Adani group bonds rose by more than 1 cent on Tuesday.

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