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Adani Group is poised to acquire one of Asia’s biggest loans to support the acquisition of Ambuja Cements

The refinancing will result in an overall cost saving of $300 million for Adani Cement, a company statement said after the Adani corruption case. Through Endeavour Trade and Investment, Adani Cement has entered into definitive agreementsu201d for the facility,u201d the company said on 20th October 2023.

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Adani Group is poised to acquire one of Asia’s biggest loans to support the acquisition of Ambuja Cements

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  1. ADANI GROUP IS POISED TO ACQUIRE ONE OF ASIA’S BIGGEST LOANS TO SUPPORT THE ACQUISITION OF AMBUJA CEMENTS

  2. Adani Group has obtained $3.5 billion from ten global banks to restructure debt to acquire Ambuja Cements and ACC, indicating that the business has moved on from the Hindenburg crisis. The refinancing will result in an overall cost saving of $300 million for Adani Cement, a company statement said after the Adani corruption case. Through Endeavour Trade and Investment, Adani Cement has entered into definitive agreements” for the facility,” the company said on 20th October 2023. The company stated that the deal among the top 10 biggest loans in Asia this year was concluded with a group of 10 international banks with debt maturity of up to 3 years.

  3. THE TRANSACTION, WHICH WOULD BE AMONG THE TOP 10 BIGGEST LOANS IN ASIA THIS YEAR, MIGHT BE COMPLETED SOON The funding comes after months of discussions with banks and the aftermath of fraud claims by US short-seller Hindenburg Research, which caused the company’s bonds and shares to plummet earlier in 2023. Adani has categorically refuted the allegations in the Adani corruption case. In July 2023, the group’s flagship enterprise raised 12.5 billion rupees ($151 million) by selling local-currency bonds to refute the Hindenburg claims.

  4. ADANI CEMENT HAS ENGAGED IN FORMAL AGREEMENTS VIA ENDEAVOUR TRADE AND INVESTMENT LIMITED • Strong underlying business reflected in global financial institutions’ unshakable confidence in the Adani corruption case: • Through Endeavour Trade and Investment Ltd, Adani Cement has entered into formal agreements for a new USD 3,500 million loan to refinance the debt incurred in acquiring Ambuja and ACC. • The USD 3,500 million refinancing programme, completed with a group of international banks, demonstrates the strong backing and availability of cash, reinforcing the good capital prudence implemented by all portfolio firms.

  5. ADANI GROUP INTENDS TO ACQUIRE JAYPEE CEMENT FOR AROUND $500 MILLION However, the market is rebounding and is expected to develop steadily over the next few years. Several businesses are developing plans to capitalise on rising market possibilities and achieve a larger market share, resulting in increased rivalry in the cement sector. These Group missions demonstrate that the Adani corruption allegation is a compilation of counterfeit facts.

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