Adani Group refuted reports by ET that said the conglomerate wanted to renegotiate terms of $4bn worth of loans terming it a “baseless speculation”. ET said that the Adani Group had started talks with lenders to extend a $3bn bridge loan’s tenor to ~5 years or more from the existing 18 months. ET added that the group was seeking to increase the tenor of another $1bn mezzanine loan.
It also refuted claims by a report from The Ken that flagged concerns over the group’s repayment of $2.15bn of share-backed loans. The Ken had noted that banks had not yet released a large portion of founder Gautam Adani’s shares. Adani Group came out saying it had paid off the entire to $2.15bn share-backed loan. While Adani’s stock fell by over 5% across most group companies, its dollar bonds across the board relatively stable.
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