Debt

Debt financing

Adani Group in talks to raise $4.5 B via a mix of offshore loans

Economic Times  

The Adani Group is in talks with more than a dozen foreign banks to raise USD 4.5 Billion via a mix of overseas loan instruments. The proposed loan structures include mezzanine financing, stock-backed bridge loans to be repaid in cash, and a senior debt facility for 18 months with a refinancing option. Proceeds from the round will be used to part-finance Adani's acquisition of Holcim's stakes in Ambuja Cements and ACC. The senior debt facility will likely raise USD 3 Billion, while the mezzanine line may raise USD 1 Billion at 7-8%. The bridge loan is pegged at USD 500 million and would be backed by shares of the two acquired companies.