BlackRock Among Top Funds With Exposure to Adani’s Dollar Debt
- BlackRock held about $104 million of US-currency bonds
- Lord Abbett, Teachers Insurance were also big debt holders
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At least 200 financial institutions around the world have had exposure to Adani Group’s $8 billion in dollar bonds, most of which slid into distress after a short-seller’s fraud allegations unleashed financial turmoil.
BlackRock Inc., the world’s biggest asset manager, held about $104 million of the Indian conglomerate’s US-currency notes, one of the largest holdings according to data compiled by Bloomberg based on the company’s most recent filings.