In response to commercial papers that matured on Monday, Adani Ports & Special Economic Zone Ltd. prepaid $5 billion to Aditya Birla Sun Life Mutual Fund, the company announced in a release on Tuesday.
The company added that it intends to use its current cash balance and money made from operating its business to prepay $10 billion of commercial papers that are due in March.
According to the press release from Adani Ports, whole-time director and CEO Karan Adani stated in February that the business intended to pay off $50 billion in debt by 2023–2024 (Apr–Mar).
The shares of Adani Ports were trading 2.97% lower at ₹565.85 on NSE at 11:10 IST.
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