Key Points
The Adani Group is all set to sign a definitive agreement to refinance $3.5 billion of loans taken for last years acquisition of ACC Ltd and Ambuja Cement, people aware of the discussions told ET..
At least 18 global banks have agreed to join the consortium led by Barclays, Deutsche Bank and Standard Chartered among others, for refinancing the debt that helped fund the biggest M&A in Indias building-materials industry...
The exercise is expected to help the Adanis save about a quarter of a billion dollars over a three-year period, said sources aware of the finer aspects of the loans pricing.. ET had reported on March 28 that the Adani Group was seeking to renegotiate the terms of acquisition financing of ACC and Ambuja Cements...
The Adani Group had begun negotiations with lenders to extend the tenor of loans from the existing 18-month period due to end in February next year to a longer duration, ET had reported then.. To be sure, the group has so far repaid close to $2 billion of Ambuja and ACC loans, which included $1 billion of promoter advances taken from three foreign banks as a loan against shares (LAS) facility...
Following the Hindenburg short seller report on the group earlier this year that led to the sudden pullout of the proposed FPO of Adani Enterprises after triggering a $150-billion wealth erosion, the entire $750 million bridge loan facility was paid back in February by the group to calm market volatility..
You might be interested in
Adani raises $3.5billion to refinance cement debt
21, Oct, 23India Business News: MUMBAI: Adani group has raised $3.
Adani Green is in talks with banks for $1.8 billion loan
03, Nov, 23India Business News: Adani Green Energy is in talks with foreign lenders to borrow up to $1.8 billion to fund new solar and wind projects. The banks involved in the discus
RBI reviews local bank loans to Adani firms
01, Mar, 23A banker said RBI supervisors overseeing some banks are even requesting Adani group loan data twice weekly, including sanctioned fund-based and non-fund-based limits and their utilization
Adani lenders weigh up to $750 million loan for Ambuja debt
27, Jul, 23India News: Barclays Plc, Deutsche Bank AG and Standard Chartered Plc are in talks to lend between $600 million and $750 million collectively to Adani Group, as p
Adani pins hopes on 20% earnings growth every year to repay $23 billion debt
30, Mar, 23India Business News: Embattled Adani Group is looking at a 20 per cent growth in earnings across businesses spanning from sea ports to airports, edible oil and commodities
Adani financers increase to 25 global banks, FY23 debt at Rs 2.3 lakh crore
27, Apr, 23Adani Group's list of lenders has reportedly increased to 25 from 18, and its debts amounted to INR 2.27tn ($30.6bn) at the end of fiscal year 2023. Majority of global banks have reaffirmed their confidence in the group, including Barclays, Deutsche Bank, Mitsubishi UFJ, Mizuho, Sumitomo Mitsui, and Standard Chartered. Adani's debt structure consists of 39% bonds, 29% financed by global banks, and the remaining 32% is financed by NBFCs, PSU, and private banks.
Wait For Exchanges To Update Data At Quarter-End, Says Adani CFO On Promoter Pledge
29, Mar, 23On March 12, the conglomerate stated that it had repaid $2.15 billion of loans that were taken by pledging promoter shares.
Adani’s go-to bankers at Barclays turn cautious after Hindenburg
18, Jul, 23Barclays has reduced its exposure to Indian conglomerate Adani following allegations made by short-seller Hindenburg Research earlier this year. Some executives are scrutinising links with the company as a regulatory probe into the claims is due to end next month, according to unnamed sources. Barclays remains among Adani's core relationship banks, and all such banks are safe in their investments and exposure to Adani companies, the conglomerate says.
Adani tests demand for financings that may top $1 billion
28, Jul, 23The Group is in talks with Barclays, Deutsche Bank and Standard Chartered to borrow between $600 million and $750 million to refinance the debt taken on to finance its purchase of Ambuja Cements