Goldman Sachs trading executives expressed the firm’s view that bonds related to Gautam Adani’s business empire had hit a floor in the short term.
Goldman Sachs and JPMorgan Chase have told some clients that bonds related to Gautam Adani’s business empire can offer value due to the strength of certain assets.
The Adani Group has denied the accusations, saying the allegation of stock manipulation had “no basis”.Before Adani pulled a stock sale, JPMorgan credit analysts said in a note to clients that they saw value in debt of some Adani operating companies.and a debt slump that took some bonds to distressed levels.
Bonds of firms related to Adani plunged to distressed levels after the firm cancelled a planned $US2.4 billion offering this week, even though it had secured money from the Middle East and India. Meanwhile, analysts at JPMorgan said the journey for Adani isn’t straightforward, yet the bank still preferred to keep exposure to the group, through bonds of well-regulated assets with marquee external shareholders.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs loses equities co-headGoldman Sachs’ co-head of equities, Ben Clifford, has left the Wall Street bank.
Read more »
Why has the Adani Group shed US$90bn in value and what do short sellers have to gain?As Gautam Adani drops down the world’s rich list, here’s what we know about Hindenburg Research’s accusations and what they mean for the Indian conglomerate
Read more »
ANZ poaches JPMorgan banker as moves ramp upChris Corbett rejoins ANZ after starting at the firm as a graduate in 2000. He has completed stints at Credit Suisse, Goldman Sachs and JPMorgan.
Read more »
Top law firms look to improve relationship with employeesLaw firm leaders say employees are looking for “a bit more corporate vulnerability”.
Read more »
Revealed: how world’s biggest fossil fuel firms ‘profited in Myanmar after coup’Leaked tax records suggest subsidiaries of international gas field contractors continued to make millions after the coup
Read more »
Afternoon Update: fossil fuel companies gave $2m to major parties; Alec Baldwin charged; and ‘bogan airline’ takes offAnnual returns, released by AusElectoralCom, show the UAP spent $123.5m in 2021-22, more than both Labor ($116m) and the Liberals ($118m) -
Read more »