Adani looks to raise $10 billion in debt

Gautam Adani’s company intends to raise at least $10 billion in fresh debt over the course of the upcoming year to pay down significant debt and fund projects in the future.

Advertisement

According to Bloomberg News on Friday, billionaire Gautam Adani’s company intends to raise at least $10 billion in fresh debt over the course of the upcoming year to pay down significant debt and fund projects in the future.

As per the report, the Adani Group intends to raise up to $6 billion using a variety of instruments, including foreign currency loans and green bonds, to replace its existing high-interest debt with lower-cost borrowings and use the remaining funds for project financing. The endeavour, it was stated, might start as early as the current December quarter.

Despite rising interest rates, the ports-to-energy company is confident in obtaining lower-cost loans because of the size of its asset base and is working to reduce its payback load, according to the study.

Advertisement

The announcement of the study comes more than a month after CreditSights, a division of Fitch Group expressed worries about the Adani group’s overall debt levels at a time when it is actively seeking to grow.