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Gautam Adani-led Adani Group has signed an agreement to refinance $3.5 billion of loans taken to acquire ACC Ltd and Ambuja Cement. The refinancing program was concluded with international banks such as DBS Bank, First Abu Dhabi Bank, Mizuho Bank, and MUFG Bank. This move is expected to save the conglomerate s cement vertical around $300 million.
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.
Adani's $3.5 Billion Ambuja Loan Moves Ahead After Some Banks Get Approval bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.