Debt

Debt financing

Adani Properties raises Rs.800-Cr from Credit Suisse

Economic Times  

Adani Properties Pvt Ltd (APPL) has raised INR 800 crore in debt from Credit Suisse for financing expansion and acquisition in the realty space. The company has also raised funds from Barclays Merchant Bank and an affiliate of JP Morgan and Chase recently. APPL borrowed INR 2,525 crore this fiscal year starting April at an average rate of 15% per annum and tenure of one to three years. All the funds were raised through zero-coupon bonds by pledging shares of SB Adani Family Trust, which holds the promoter shares of listed Adani Group companies Credit Suisse provided INR 800 crore in three tranches in August and Rs 550 crore in two tranches in April. Barclays invested INR 425 crore into bonds maturing on April 30, 2025, while Copthall Mauritius Investment, an affiliate of JPMorgan, provided INR 750 crore in four tranches in April.