This company of Adani Group got a loan of $ 150 million, know full details

Adani Ports and Special Economic Zone Limited has raised about $ 150 million under a bilateral loan agreement with DBS Group Holdings Limited. People familiar with the whole matter have shared information about this deal between Adani Ports and DBS Group. According to the Economic Times report, the money from this loan will be used by Adani Ports for capital expenditure. He said that the price of this facility has been kept about 200 basis points higher than the benchmark secured overnight financing rate. A person associated with the matter said that the total price including hedging cost is about 5.5%.

First loan from global bank after bribery allegations

However, Adani Ports and DBS have not yet given any official statement on this loan deal. Let us tell you that the group is continuously gaining the confidence of lenders after Adani was indicted by the US Justice Department for alleged bribery conspiracy in November last year. One person said that this bilateral loan is the group’s first loan from a global bank since the indictment. Last month, the group raised about $750 million through an offshore private placement bond to acquire a construction firm. In this, BlackRock Inc. subscribed to about a third of the issue.

Talks continue with several banks for a loan of $ 750 million

In addition, the group is in talks with foreign banks including Barclays PLC, First Abu Dhabi Bank PJSC and Standard Chartered Bank PLC for a loan of $ 750 million for its airport unit. Bloomberg reported earlier this month that representatives of Adani and his companies met US administration officials to discuss the possibility of dismissing criminal charges leveled against them in a recent bribery investigation.