The report comes a day after the Adani Group said that its firms have no near-term liquidity problems. (file)
Bengaluru:
India’s crisis-hit Adani Group is in talks to repay a $500 million bridge loan facility to buy a controlling stake in cement companies ACC Ltd and Ambuja Cements Ltd last year, the Economic Times daily reported on Wednesday.
The group is looking to repay the bridge loan with cash this month, the report said, citing people familiar with the matter, who said the loan had a six-month tenure and was part of a larger financing package of $5.25 billion. was part of.
The report comes a day after the group said its companies were not facing any material refinancing risk or near-term liquidity issues in its latest attempt to calm investors affected by the US short-seller’s critical report on its business practices. does not have to be faced.
ET reported that the loan was underwritten by Barclays, Deutsche Bank and Standard Chartered.
The financial consortium that lent to Adani also included DBS, MUFG, Sumitomo Mitsui Banking Corp, First Abu Dhabi Bank, Intesa and Mizuho, the report said.
Adani Group and the lenders did not immediately respond to Reuters requests for comment.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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