{"id":1273404,"date":"2023-09-15T13:00:04","date_gmt":"2023-09-15T07:30:04","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1273404"},"modified":"2023-09-15T13:00:39","modified_gmt":"2023-09-15T07:30:39","slug":"adani-group-seeks-rs-2-9-lakh-crore-loan-for-this-reason-asias-one-of-the-biggest-loans-in-2023","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/adani-group-seeks-rs-2-9-lakh-crore-loan-for-this-reason-asias-one-of-the-biggest-loans-in-2023\/","title":{"rendered":"Adani Group Seeks Rs 2.9 Lakh Crore Loan For This Reason: Asia&#8217;s One Of The Biggest Loans In 2023!"},"content":{"rendered":"\n<p>Adani Group is seeking loans to refinance debt taken on to fund its purchase of Ambuja Cements which could be one of Asia\u2019s largest syndicated loan deals of the year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Adani-1280x720-3-1024x576-1.jpeg\" alt=\"Adani Group Seeks Rs 2.9 Lakh Crore Loan For This Reason: Asia's One Of The Biggest Loans In 2023!\" class=\"wp-image-1273430\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Adani-1280x720-3-1024x576-1.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Adani-1280x720-3-1024x576-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Adani-1280x720-3-1024x576-1-768x432.jpeg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>One of Asia\u2019s biggest deals<\/strong><\/p>\n\n\n\n<p>Banks are likely to refinance a total of $3.5 billion and Adani would repay at least $300 million on the original Ambuja facility.<\/p>\n\n\n\n<p>It intends to raise this amount by <a href=\"https:\/\/www.telegraphindia.com\/business\/adani-group-in-talks-with-banks-to-refinance-3-5-billion-of-debt-taken-to-acquire-holcims-cement-business\/cid\/1966042\">September<\/a>.&nbsp;<\/p>\n\n\n\n<p><strong>Involved entities<\/strong><\/p>\n\n\n\n<p>It had been in talks with lenders for several months as it seeks to refinance debt taken for its Ambuja acquisition.<\/p>\n\n\n\n<p>DBS Group Holdings Ltd., First Abu Dhabi Bank PJSC, Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group, Inc. and Sumitomo Mitsui Banking Corp. would each lend about $400 million.<\/p>\n\n\n\n<p>Other banks would lend smaller amounts.<\/p>\n\n\n\n<p><strong>Back to business?<\/strong><\/p>\n\n\n\n<p>The advancing negotiations are the latest sign that the conglomerate is returning to normalcy after being hit by allegations of malfeasance by US short seller Hindenburg Research.<\/p>\n\n\n\n<p>The impact had been such that it at one point shaved off more than $150 <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/adani-in-talks-for-3-5-billion-one-of-top-asia-loans-this-year-11362431.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">billion <\/a>from the company\u2019s stocks, which Adani officials have repeatedly denied.<\/p>\n\n\n\n<p>As part of its return to capital markets after this, the group\u2019s flagship firm already raised 12.5 billion rupees by issuing local-currency bonds in July.<\/p>\n\n\n\n<p><strong>GQG Partners<\/strong><\/p>\n\n\n\n<p>Veteran investor Rajiv Jain\u2019s GQG Partners LLC has also purchased a stake in group firms.<\/p>\n\n\n\n<p>It now <a href=\"https:\/\/www.telegraphindia.com\/business\/adani-group-in-talks-with-banks-to-refinance-3-5-billion-of-debt-taken-to-acquire-holcims-cement-business\/cid\/1966042\">holds <\/a>stakes in five of the 10 Adani Group firms.<\/p>\n\n\n\n<p>Rajiv Jain had said in an interview that GQG would like to be one of the largest investors in the Adani Group within five years.<\/p>\n\n\n\n<p>Its combined holdings in five Adani stocks \u2013 Adani Enterprises Ltd, Adani Ports, Adani Green Energy Ltd, Adani Transmission Ltd and Ambuja Cements \u2014 is now <a href=\"https:\/\/www.businesstoday.in\/latest\/corporate\/story\/adani-group-looks-to-refinance-debt-of-usd-3-5-billion-taken-to-buy-ambuja-cements-report-398349-2023-09-14\">worth <\/a>close to Rs 26,000 crore.<\/p>\n\n\n\n<p><strong>Nothing confirmed yet<\/strong><\/p>\n\n\n\n<p>The transaction has not yet been finalized and the terms could change.&nbsp;<\/p>\n\n\n\n<p>If the deal closes, it would be the fourth-biggest loan in Asia outside Japan this year<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adani Group is seeking loans to refinance debt taken on to fund its purchase of Ambuja Cements which could be one of Asia\u2019s largest syndicated loan deals of the year. One of Asia\u2019s biggest deals Banks are likely to refinance a total of $3.5 billion and Adani would repay at least $300 million on the [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1273430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[761],"class_list":["post-1273404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-adani"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Adani Group Seeks Rs 2.9 Lakh Crore Loan For This Reason: Asia&#039;s One Of The Biggest Loans In 2023! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/adani-group-seeks-rs-2-9-lakh-crore-loan-for-this-reason-asias-one-of-the-biggest-loans-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adani Group Seeks Rs 2.9 Lakh Crore Loan For This Reason: Asia&#039;s One Of The Biggest Loans In 2023! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Adani Group is seeking loans to refinance debt taken on to fund its purchase of Ambuja Cements which could be one of Asia\u2019s largest syndicated loan deals of the year. One of Asia\u2019s biggest deals Banks are likely to refinance a total of $3.5 billion and Adani would repay at least $300 million on the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/adani-group-seeks-rs-2-9-lakh-crore-loan-for-this-reason-asias-one-of-the-biggest-loans-in-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-15T07:30:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-15T07:30:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Adani-1280x720-3-1024x576-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shreya Bose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shreya Bose\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/adani-group-seeks-rs-2-9-lakh-crore-loan-for-this-reason-asias-one-of-the-biggest-loans-in-2023\/\",\"url\":\"https:\/\/trak.in\/stories\/adani-group-seeks-rs-2-9-lakh-crore-loan-for-this-reason-asias-one-of-the-biggest-loans-in-2023\/\",\"name\":\"Adani Group Seeks Rs 2.9 Lakh Crore Loan For This Reason: Asia's One Of The Biggest Loans In 2023! 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