Adani to Prepay $500 Million Loan as Banks Balk to Refinance
- Deutsche, Standard Chartered, Barclays among lenders for loan
- Adani had borrowed $4.5 billion for purchase of Holcim assets
This article is for subscribers only.
The Adani Group plans to prepay a $500 million bridge loan due next month after some banks balked at refinancing the debt following a short seller report that sent the group’s assets tumbling.
Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year. A portion of that loan is due March 9.