BlackRock and State Street increased their holdings of Adani Group dollar bonds, while Lombard Odier and Neuberger Berman also raised their positions. Adani Group s empire improved its financial condition, paying down debt, refinancing loans, and attracting equity investments after the Hindenburg Research report.
Adani Debt: BlackRock and State Street increased their holdings of Adani Group dollar bonds, while Lombard Odier and Neuberger Berman also raised their positions. Adani Group s empire improved its financial condition, paying down debt, refinancing loans, and attracting equity investments after the Hindenburg Research report.
Barclays, Deutsche Bank, and Standard Chartered have obtained internal approval to lend about $250 million each as part of a larger syndicated loan of $3.5 billion to refinance debt taken by the Adani Group for its acquisition of Ambuja Cements. Some institutions are also in talks to lend $400 million each, potentially making it one of Asia s largest loan deals this year. The deal signals progress for Adani Group in overcoming allegations of malfeasance made earlier this year.
The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc, said the people, asking not to be identified when discussing a private matter.
The embattled group, which is at the centre of a major political controversy, has projected to not take on additional debt until it lowers its existing one.