The Adani Group, previously facing wealth erosion due to allegations, is now finalizing a $3.5 billion loan to refinance existing debt used for the purchase of Ambuja Cements Limited. The deal, backed by 18 global banks, is set to be among Asia’s top 10 loans this year.
The loan is expected to be priced at 450-500 basis points over the benchmark secured overnight finance rate. The Adani family will prepay $300 million as per the loan agreement. This refinancing is projected to save the group around a quarter of a billion dollars over three years and extend the repayment timeline to 2027, boosting the conglomerate’s credit ratings.
Recent recoveries, including the infusion of funds by Rajiv Jain, have propelled Gautam Adani’s net worth to $52.8 billion, signaling a substantial rebound from earlier challenges.
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