Adani Ports Completes Partial Buyback as Majority Holders Retain Dollar Bonds

Despite global market uncertainties linked to the West Asia crisis, investors have largely retained their holdings in Adani Group's US dollar bonds. Adani Ports and Special Economic Zone Ltd (APSEZ) completed a tender offer on March 12 to repurchase up to $495 million of senior notes but accepted only about $199.5 million. Over 60% of bondholders declined the buyback, indicating sustained investor confidence. APSEZ aims to use excess cash to reduce debt and has previously reshaped its debt profile through refinancing and selective buybacks.