Adani Loan Of $3.5 Billion To Pass, Could Be The Biggest Loan Deal In Asia (Image: x.com/gautam_adani)
Adani’s Ambuja loan of $3.5 billion has received an internal approval. In order to refinance the Adani debt for the buy out of Ambuja Cements Ltd., a group of banks have been in talks to lend out for the syndicated loan. This move has concurred a positive step. The banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc, insiders who was in the know said, reported the mint. Apart from this no other details were available regarding the banks.
The banks, which are a part of a larger consortium, were in talks to lend about $250 million each, for the refinancing, towards the syndicated loan of $3.5 billion. Other institutions are also part of this discussions with plans to lend $400 million each. The loan could turn into one of the biggest loan deals in Asia, mint said.
The deal adds proof to the allegations levelled against it by the US short seller Hindenburg Research early this year. The repeated claims of denial about the allegations had resulted in a sell-off in the stocks and bonds of the group. Some banks had hesitated in accepting the idea during the negotiation period, mint reported.
The spokespersons at Barclays, Deutsche and Standard Chartered banks have not responded and declined to comment on this. The Adani Group has also declined to comment on this, the mint said. The terms of the transaction nor any information on the finalisation of the deal are known yet.
The India assets of Switzerland’s Holcim Ltd. was acquired by Adani Group in the year 2022. The conglomerate was making a foray beyond its ports, power plants and coal mines, into other areas like data centers, airports, digital services, retail and media.
