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News Adani to repay US$500m bridging loan used to acquire cement producers

Adani to repay US$500m bridging loan used to acquire cement producers

Written by Global Cement staff 15 February 2023
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India: Adani Group is in talks with lenders to repay a US$500m bridging loan facility it used to buy controlling stakes in ACC and Ambuja Cements in 2022. Adani is looking to repay the loan with cash during February 2023, according to the Economic Times. The loan was underwritten by Barclays, Deutsche Bank and Standard Chartered. The financial consortium lending to Adani also includes DBS, MUFG, Sumitomo Mitsui Banking Corp, First Abu Dhabi Bank, Intesa and Mizuho.

The Economic Times’ report comes a day after the group said its companies face no material refinancing risk or near-term liquidity issues, in its latest attempt to calm investors spooked by Hindenburg Research’s critical report on its business practices.

Published in Global Cement News
Tagged under
  • India
  • Adani Group
  • Adani Cement
  • ACC
  • Ambuja Cements
  • Loan
  • corporate
  • Hindenburg Research
  • GCW595
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