Adani dollar bond prices fell sharply following charges against Chairman Adani

U.S. authorities allege Chairman Gautam Adani and seven others paid $265 million in bribes to Indian government officials. Adani Group has not commented on the allegations as yet.

The price of Adani dollar bonds fell in early Asia trade.

Reuters reports

• Adani Ports and Special Economic Zone: Bonds maturing in August 2027 fell over five cents on the dollar.
• Adani Electricity Mumbai: Bonds maturing in February 2030 dropped nearly eight cents.
• Adani Transmission: Bonds fell more than five cents, trading slightly above 80 cents.

The price drops are the most significant since February 2023, when Hindenburg Research released a critical report on Adani Group’s debt and tax practices.

This article was written by Eamonn Sheridan at www.forexlive.com.