Thu Nov 21 05:13:35 UTC 2024: ## Adani Group Successfully Launches $600 Million Bond Sale After Delay
**MUMBAI, INDIA** – The Adani Group has successfully launched a $600 million, 20-year dollar bond sale, pricing the offering at a yield of approximately 7.75%. This follows a postponement of a similar offering in October, where initial guidance was set at a 7% yield. The higher yield reflects increased US Treasury yields since the October postponement, despite a tightening of Asian dollar bond spreads.
The conglomerate will use the proceeds to repay existing foreign-currency loans. The successful bond sale comes amidst a period of increased corporate bond issuance, with other major players like Alibaba and State Bank of India also recently raising significant capital.
The October delay was attributed to investor pushback on pricing. The renewed offering comes as Adani Group focuses on growth and investor confidence recovery following a negative report by Hindenburg Research in 2023 that triggered a significant drop in the group’s stock value. The group recently announced plans to invest $10 billion in US energy and infrastructure projects.
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