The Adani Group has started a series of roadshows in various countries across the globe in a bid to boost investor confidence ahead of the issuance of fresh bonds.
According to a Moneycontrol report, the conglomerate, which is set to raise $409 million through US dollar-denominated bonds of Adani Green Energy Ltd, intends to address the concerns of the investors about the group’s debt management strategies, liquidity position, and repayment schedules.
These roadshows are being led by the key executives and financial advisors of the Adani Group.
The group's executives are expected to outline the expansion plans of the conglomerate during the roadshow events.
“The group’s senior management have recently met investors in London and plan to hold similar interactions with investors in continental Europe, the US and Canada, the Middle East and Asia,” Moneycontrol quoted a source as saying.
The roadshows are "strategically designed to engage overseas stakeholders and provide insights into the group’s operational performance, financial stability, and growth prospects."
According to media reports, Adani Group’s executives are in Singapore which is the first stop of the planned roadshow. Bloomberg reported that the debt being marketed to investors in Singapore would have a tenor of 18 years. They will be in Hong Kong on Thursday.
A series of fixed-income investor meetings are planned in Asia, the Middle East, Europe and the United States from Wednesday, reported Reuters.
With the issuance of the fresh bonds, the group plans to repay a debt obligation falling this year. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024. These notes were issued on June 10, 2019.
