Adani bonds tumbled to almost a one-year low in global bourses amid reports that several overseas banks were reviewing their exposure to the Adani group.

Tradingview data of the Frankfurt Stock Exchange shows dollar prices of Adani Ports and Special Economic Zone bonds maturing in 2027 were trading at 87.22 per cent of par. It was at 85.37 per cent as of November 27, 2023.

Adani Energy Solutions bonds maturing in 2026 were trading at 90.76 per cent of par compared with 88.27 per cent as of November 27, 2023.

Banks and regulators globally have been reviewing their exposure to the ports-to-power conglomerate amid accusations of bribery and fraud by the US authorities.

The Monetary Authority of Singapore (MAS), the country’s banking regulator, issued a statement on Monday stating that Singapore’s overall exposure to the Adani group was “small”. “Banks have in place measures to review and manage their exposures to borrowers and counterparties,” MAS said.

DBS Group, Singapore’s largest bank by assets, had said some time ago that it has an exposure of S$ 1.3 billion ($967 million) to the Adani group.