For Mumbai Airport, Adani Puts On Hold A Big Business Plan
NDTV
A number of Asian companies have recently shifted tack on issuance due to market volatility.
Mumbai International Airport Ltd. has delayed a proposed dollar bond offering, according to people familiar with the matter, as market volatility prompts borrowers around the world to adjust their funding plans.
The operator of India's second-largest airport had said in an exchange filing in late February that it would be meeting with investors for the proposed issuance. But the financial market upheaval following Russia's invasion of Ukraine means the deal was put on hold, the people said, asking not to be identified because the discussions are private.
A spokesman for parent company Adani Group, controlled by one of India's richest men, declined to comment when contacted by Bloomberg about the planned issuance.
With global inflation spiking and investors bracing for higher interest rates, sales of dollar-denominated bonds in Asia outside Japan so far this year have slumped to the lowest for similar periods since 2016 at only about $50 billion.
