Adani Group closes in on $3.5 billion loan to restructure debt
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The Adani Group is on the verge of securing a massive $3.5 billion (around Rs. 29,110 crore) loan to refinance its existing debt from the acquisition of Ambuja Cements Ltd. This deal, expected to be finalized this week, would be among the top 10 largest loans in Asia this year. Insiders reveal that the loan would likely have an all-in-cost of 450-500 basis points over the benchmark secured overnight finance rate and include three tenors: 6-month, 18-month, and 3-year.