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Adani Group is in talks with lenders, including global banks, as it seeks to refinance up to $3. 8 billion of a loan facility taken for its acquisition of Ambuja Cements last year, said people familiar with the matter.
The ports-to-power conglomerate owned by Indian tycoon Gautam Adani is mulling whether to convert the original loan into debt with a longer maturity period and has started talking to banks individually about that plan, said the people, who asked not to be identified as the discussions are private.
The effort is a significant test of whether global credit lines will open up to the company again after US shortseller Hindenburg accused the Adani Group of widespread corporate malfeasance in January. Adani has denied the allegations. Adani is expecting to conclude the process within three to four months and most of the existing lenders are expected to participate, the people said. A spokesperson for Adani didn’t immediately respond to a request for comment.
The ports-to-power conglomerate owned by Indian tycoon Gautam Adani is mulling whether to convert the original loan into debt with a longer maturity period and has started talking to banks individually about that plan, said the people, who asked not to be identified as the discussions are private.
The effort is a significant test of whether global credit lines will open up to the company again after US shortseller Hindenburg accused the Adani Group of widespread corporate malfeasance in January. Adani has denied the allegations. Adani is expecting to conclude the process within three to four months and most of the existing lenders are expected to participate, the people said. A spokesperson for Adani didn’t immediately respond to a request for comment.
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