Adani ports And Special Economic Zone Limited has raised around $ 150 million under the Bilateral Loan Agreement with DBS Group Holdings Limited. People familiar with this whole matter have shared information about this deal between Adani Ports and DBS Group. According to the Economic Times report, the money of this loan will be used by Adani Ports for capital expenditure. He said that the price of this facility has been kept more than 200 basis points than the benchmark secured overnite finance rate. A person associated with the case said that the total price including hedging cost is about 5.5%.
First loan from Global Bank after bribery allegations
However, Adani Ports and DBS have not yet given any official statement on this loan deal. Let us tell you that this group is continuously gaining confidence of lenders after Adani was prosecuted by the US justice department for the alleged bribery conspiracy in November last year. One person said that this is the first loan of a Global Bank of Bilateral Loan Group since the prosecution. Last month, the group raised around $ 750 million through an offshore private placement bond for the acquisition of a construction firm. In this, Blackrock Inc. joined about one -third of the issue.
Conversations with many banks continue for $ 750 million loan
In addition, the Group is interacting with foreign banks including Barclays PLC, First Abu Dhabi Bank PJSC and Standard Chartered Bank PLC for a $ 750 million loan for its airport unit. Bloomberg said earlier this month that Adani and representatives of his companies met US administration officials to discuss the possibility of dismissing criminal allegations against him recently in an investigation into bribery.
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