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Adani Green Energy Ltd. secured a $1.4bn loan for its renewable project, on Tuesday. The financing will help the company in developing 2,167MW renewable energy park in Khavda, Gujarat. The loan facility was extended by a consortium of lenders, comprising of eight leading international banks. With this, the funding pool for the construction financing framework has reached to $3bn.
In related news, US government extended a loan of $553mn to Adani Ports & Special Economic Zone Ltd (Adani Ports), before concluding that the Hindenburg allegations of corporate fraud weren’t applicable to the entity. However, according to the official of the US agency, “The agency will continue to monitor the Indian firm to ensure the US government doesn’t unintentionally support financial misconduct or other inappropriate behavior”
Adani’s dollar bonds were flat to slightly positive with its 3.375% 2024 trading at 98.5 cents on the dollar, yielding 5.9%.
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