International Finance: Adani in crisis as bonds hit distressed levels, stock sale axed

The question now is what Adani will do to prevent the turmoil from getting out of control, especially after the setback with the stock offering, which would have been India’s largest and further raise his global profile. The risk is also that more financial institutions start to scrutinize their exposure to a business empire that sprawls from ports to green energy.

Adani Enterprises’ decision to withdraw its follow-on share sale won’t have any impact on its existing operations and future plans, Adani said in a video Matters escalated on Wednesday with a record 28% plunge in Adani Enterprises. It subsequently abandoned a $2.4-billion follow-on share sale, even though it was fully subscribed with backing from prominent Indian and Gulf investors.

Adani Ports’ 3.375% bond due July 2024 tumbled more than 20 cents on the dollar to 69.75 cents in investment-grade secondary trading, according to Trace data. At least four other Adani Ports bonds hit distressed levels, falling to 69 cents or lower.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

THE FINANCE GHOST: Yes, big tech stopped the headcountMarket estimates suggest nearly 100,000 jobs were cut in 2022 across the tech industry. It’s possible 2023 will dwarf that number, as the tech giants have sent the job market into a frenzy this month, writes FinanceGhost. FinanceGhost
Fuente: FinancialMail - 🏆 20. / 63 Leer más »

THE FINANCE GHOST: Yes, big tech stopped the headcountMarket estimates suggest nearly 100,000 jobs were cut in 2022 across the tech industry. It’s possible 2023 will dwarf that number, as the tech giants have sent the job market into a frenzy this month, writes FinanceGhost.
Fuente: FinancialMail - 🏆 20. / 63 Leer más »

THE FINANCE GHOST: Yes, big tech stopped the headcountA frenzied hiring spree among the goliaths is finally over, replaced by sweeping layoffs. But don’t think the heady Covid margins are bouncing back any time soon, writes FinanceGhost.
Fuente: FinancialMail - 🏆 20. / 63 Leer más »

PERSONAL FINANCE: Financially stressed South Africans living in the moment neglect planning for the futureYolo. Fomo. You Only Live Once. Fear Of Missing Out. These are life mottoes that have become entrenched in modern culture and are often used as hashtags on social media. However, when it comes to personal finances, Yolo and Fomo are not the way to go.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Sudan: Finance Minister Criticised for Lack of Clarity in New Sudan BudgetAs Sudan witnessed protests demanding improvements in health and education, Economist Haisam Mohamed Fathi told Radio Dabanga that the 2023 national budget, approved by the Council of Ministers two days ago, "far from heralds a transition to a new phase for the Sudanese economy."
Fuente: allafrica - 🏆 1. / 99 Leer más »