Adani JV in talks with banks for first credit in dollars since Hindenburg report: Report
Mumbai: Adani Group is in talks with at least half a dozen banks for a loan of about $220 million, its first since the negative by US-based short-seller Hindenburg Research last January, Bloomberg reported.
Data centre provider AdaniConneX, a joint venture with Virginia-based EdgeConneX, will use the borrowed money over a span of five years, which is the tenor under discussion, the news agency reported citing people aware of the matter.
The loan is likely to be finalised in the next few weeks, the report said.
Adani Group hasn’t made an official statement on the matter and didn’t respond to the queries by Bloomberg News.
Hindenburg's January 24th report triggered a massive decline of over $100 billion in the shares' value of the listed companies of the ports-to-power conglomerate, forcing the group to scale down some of its previously ambitious expansion plans.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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