Business Standard

Adani group lenders may offer $750 million loan for Ambuja debt

Gautam Adani's conglomerate is also in discussions with other lenders, as it seeks to refinance as much as $3.8 billion of a loan facility taken for its Ambuja acquisition

Adani Group, Adani

Photo: Bloomberg

Bloomberg

Listen to This Article

Barclays, Deutsche Bank AG and Standard Chartered are in talks to lend between $600 million and $750 million collectively to the 
Adani group, as part of discussions to refinance the debt taken to fund its purchase of Ambuja Cements, according to people familiar with the matter. 
 
The loan would be syndicated, said the people, who asked not be named as the matter is private. 
 
Gautam Adani’s conglomerate is also in discussions with other lenders, as it seeks to refinance as much as $3.8 billion of a loan facility taken for its Ambuja acquisition. 
 
If executed, the loan of as much as $750 million would be part of that broader refinancing. The talks haven’t yet concluded, and the amounts could still change. 
 
Adani group, Barclays, Deutsche and Standard Chartered all declined to comment. The discussions take place six months after US shortseller Hindenburg accused the Adani group of widespread corporate malfeasance in January, prompting a surge in dollar borrowing costs. Adani has denied the allegations, and the company’s cost of capital has dropped again. With its debt metrics improving, the conglomerate has returned to fundraising.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 27 2023 | 10:35 PM IST

Explore News