This story is from July 28, 2023
Adani looks to borrow $750 million from 3 foreign banks
MUMBAI: Billionaire Gautam Adani is in talks with three foreign lenders to raise as much as $750 million to refinance debt taken for the purchase of Ambuja Cements and ACC. Separately, he has closed a trade finance facility of $394 million (Rs 3,231 crore) with two international lenders, Barclays and Deutsche Bank, for a solar module manufacturing complex.
He is also in discussions with other lenders to refinance the rest of the loan. The discussions take place six months after US-based Hindenburg Research accused the Adani Group of corporate malfeasance in January, prompting a surge in dollar borrowing costs. Adani has denied the allegations, and the group's cost of capital has dropped again.
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He is also in discussions with other lenders to refinance the rest of the loan. The discussions take place six months after US-based Hindenburg Research accused the Adani Group of corporate malfeasance in January, prompting a surge in dollar borrowing costs. Adani has denied the allegations, and the group's cost of capital has dropped again.
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Top Comment
U
User
844 days ago
Professionals run all these international banks and so they would not bother with the report of Hindenberg and go purely with the balance sheet and auditors reportRead allPost comment
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