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Friday, 20 October 2023

Adani Group Stocks: Good news after a long time - new plan worth Rs 28000 crore approved

Adani Group has completed re-financing of $ 350 crore i.e. Rs 28,700 crore. ACC has re-financed USD 350 million for the Ambuja Cement acquisition. Loan refinancing involves refinancing existing loans by taking new loans with conditions such as lower interest rates. Usually, a new loan is taken from a new bank. The old loan is closed with the money received from the new loan. If the interest rate in the new loan is low, then the burden of EMI will be less on the company. Loan Refinancing
Barclays, Deutsche and Standard Chartered Bank have approved the loan. These banks will provide loans of $ 25-25 million. Discussions were being held with 3 groups for syndicate loans. The first group includes DBS, First Abu Dhabi Bank, Mizuho, MUFG and Sumitomo Mitsui Banking Corp. The second group includes Barclays, Deutsche Bank and Standard Chartered Bank. There was a discussion on a loan of $ 25-25 million from them. The third group includes BNB Paribas, Emirates NBD and Qatar National Bank. They can lend $150-150 million.

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