Adani Group: Adani Group took a loan of three billion dollars from Sovereign Wealth Fund! Option to increase the limit

Posted on 1st Mar 2023 04:53 pm by rohit kumar

After the report of Hindenburg Research, relief news has come for the creditors (lenders) from Adani Group, which is facing huge losses. Media reports are claiming that the Adani group has told its creditors that it has taken a loan of three billion dollars from a sovereign wealth fund. If sources are to be believed, the group has taken this step intending to allay concerns about the credit profile. The credit limit of the Sovereign Wealth Fund can be increased to five billion dollars.

 

Earlier it was reported that to improve the credit profile, the group is planning to repay the debt of Rs 5,705 to 6,532 crore ($ 69 to 79 million) taken by pledging the shares. It is believed that the company can prepay these loans in March itself.

 

80 percent drop after the Hindenburg report

According to media reports, Adani Green Energy is planning to refinance its 2024 bonds on a credit line of $800 million (about Rs 6615 crore) for three years. Explain that after the report of American short-seller Hindenburg Research, many shares of Adani Group have registered a decline of up to 80 percent.

 

trying to coordinate with investors

Adani Group is constantly trying to coordinate with the investors to address their concerns of the investors. The group is holding a two-day roadshow after meeting a dozen global banks in Singapore on Monday. A presentation of over 10 pages was also made on the Group's earnings to its total debt in Singapore.

 

Also Read: No bar on media coverage in Adani-Hindenburg case: Supreme Court dismisses petition; Said – will give a decision soon on the formation of the committee

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