Adani Green Scores $1.8B: Banks Back Renewables

Nov 3, 2023 04:10 PM ET
  • Adani Green Energy is in talks to borrow up to $1.8 billion from major lenders including Barclays, BNP Paribas and Deutsche Bank. Be one of the first to hear the outcome of the historic loan deal, and what it means for the future of energy projects.
Adani Green Scores $1.8B: Banks Back Renewables

Adani Green Energy is in talks with a group of foreign lenders to borrow up to $1.8 billion, a loan which would be used to build new capacity in solar and wind energy projects. Banks involved in the talks include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc. The transaction is yet to be finalized and the terms could still change. It would be one of the 20-biggest major currency loans in Asia this year, according to Bloomberg-compiled data. Earlier this year, allegations of malpractice by short seller Hindenburg Research caused some banks to balk at debt refinancing. Adani has denied the accusations and his group completed a $3.5 billion funding package to refinance debt used to purchase Ambuja Cements Ltd. and ACC Ltd.

What Loans is Adani Green Energy Negotiating for Solar and Wind Projects?

  • Adani Green Energy is in talks with six major foreign banks to borrow up to $1.8 billion for solar and wind energy projects.
  • The banks involved in the talks include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc.
  • If the transaction is finalized, it would be one of the 20-biggest major currency loans in Asia this year.
  • Earlier this year, allegations of malpractice by short seller Hindenburg Research caused some banks to balk at debt refinancing for Adani.
  • Adani has denied the accusations, and has since completed a $3.5 billion funding package to refinance debt used to purchase Ambuja Cements Ltd. and ACC Ltd.
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Source:
bloomberg.com

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