Adani Group In Talks With International Lenders For Debt Refinancing

Adani Group is in discussions with lenders, including international banks, about refinancing up to USD 3.8 billion of a loan facility it took to buy Ambuja Cements last year.

The ports-to-power company founded by Gautam Adani is considering whether to convert the initial loan into debt with a longer maturity period and has begun speaking with banks individually about that proposal.

The project is a crucial test of whether the company’s access to international credit lines will be restored after US short-seller Hindenburg accused the Adani Group of widespread corporate misconduct in January. Adani has refuted the charges.

The majority of the current lenders are anticipated to participate, and Adani anticipates finishing the process in three to four months, according to the people. An inquiry for comment was not immediately answered by an Adani official.

If the proposal proceeds, it would be the latest indication that the conglomerate is getting back to business as usual after months of damage control following Hindenburg’s scathing attack that at one point cost the company’s stocks more than USD 150 billion.