India: Adani Group is negotiating with several international banks to extend and refinance loans worth US$3.5bn that it used to buy Ambuja Cement and ACC. The Business Standard newspaper reports that the company hopes to extend the bridging loans it originally secured to a tenure of five years. Adani Group purchased the former subsidiaries of Switzerland-based Holcim for around US$6.5bn in September 2022. It later said it planned to invest a further US$2.5bn into its new cement business to double its production capacity.

Adani Group to extend loans used to buy Ambuja Cement and ACC
URL: https://globalcement.com/news/item/15004-adani-group-to-extend-loans-used-to-buy-ambuja-cement-and-acc
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