adani group bonds fall for the second day after us indictment investors panic

Adani Group’s shares have continued to face negative impact after US prosecutors indicted Adani Group Chairman Gautam Adani for an alleged $265 million bribery scheme. Adani Group bonds have been pressured for the second straight session on Friday, November 22, 2024. This information has come to light in a Reuters report.

For example, Adani Ports and Special Economic Zone bonds maturing in 2027 traded at 92 cents on the dollar, and bonds with longer maturities traded around 80 cents. This came as the group sought to reassure investors that it was a “law-abiding organisation”, described the allegations as “baseless and rejected”, and said it would seek “all possible legal remedies”.

“Adani Group has always been committed to maintaining the highest standards of governance, transparency and regulatory compliance in all areas of its operations,” it said. “We assure our stakeholders, partners and employees that we are a law-abiding organization, fully compliant with all laws.”