India’s embattled Adani Workforce is in talks with lenders to pay off a $500 million bridge mortgage facility it had taken to shop for controlling stakes in cement firms ACC Ltd and Ambuja Cements Ltd final yr, the Financial Occasions day by day reported on Wednesday.
The gang is taking a look to pay off the bridge mortgage with money this month, the document mentioned, bringing up other folks conscious about the topic, including that the mortgage had a tenor of six months and was once a part of a bigger $5.25 billion financing bundle.
The document comes an afternoon after the crowd mentioned its firms face no subject matter refinancing possibility or near-term liquidity problems, in its newest try to calm buyers spooked by means of a U.S. short-seller’s vital document on its industry practices.
The mortgage was once underwritten by means of Barclays, Deutsche Financial institution and Same old Chartered, ET reported.
The monetary consortium lending to Adani additionally contains DBS, MUFG, Sumitomo Mitsui Banking Corp, First Abu Dhabi Financial institution, Intesa and Mizuho, the document mentioned.
The Adani organization and the lenders didn’t instantly reply to Reuters’ requests for remark.
(Except for for the headline, this tale has no longer been edited by means of NDTV personnel and is printed from a syndicated feed.)
(Disclaimer: New Delhi Tv is a subsidiary of AMG Media Networks Restricted, an Adani Workforce Corporate.)
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