Debt financing
Two Adani Group units raise $275-M offshore debt from global lenders
Two units of Adani Group raised about USD 275 million through foreign currency loans.Adani Airport Holdings Ltd has raised USD 150 million through a syndicated foreign currency loan from Barclays Plc, DBS Bank Ltd., First Abu Dhabi Bank and Mitsubishi UFJ Financial Group.Adani Ports & Special Economic Zone Ltd has raised USD 125 million through a bilateral deal with Mitsubishi UFJ Financial Group.The airport loan is priced about 300 basis points over the secured overnight financing rate (SOFR) and the ports loan at 215 basis points over SOFR. Both have a tenor of four years, and proceeds will be used for purposes including dollar bond buybacks and capital spending.Founded in 2019, Adani Airport Holdings manages and operates airports at Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.Founded in 1998, Adani Ports operates Mundra, Dahej, Kandla, and Hazira ports in Gujarat; Dhamra in Odisha; Mormugao in Goa; Visakhapatnam and Krishnapatnam in Andhra Pradesh; and Kattupalli and Ennore in Chennai.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
