Adani Green Energy is seeking a loan of USD 1.8 billion from a group of foreign lenders which will be used to build new capacity in solar and wind projects. Barclays and First Abu Dhabi are among the banks in talks.
Nov 2, 2023
According to reports, Adani Green Energy, to build new capacity in solar and wind projects, has been in talks with a group of foreign lenders for a USD 1.8 billion loan. However, terms may change in the future as the transaction hasn’t been finished yet. But if signed before late December, it would be one of the 20-biggest major currency loans in Asia this year, according to Bloomberg-compiled data. According to people, the banks involved include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank, and Standard Chartered Plc. The conglomerate has been trying to rebuild investors’ confidence after they were accused of malpractice by Hindenburg Research. The accusation caused some banks to refuse debt refinancing early this year. Adani Group has repeatedly denied the accusations, and in a sign of improved sentiment, the group completed a USD 3.5 billion funding package to refinance debt used to purchase Ambuja Cements Ltd. and ACC Ltd.
