According to anonymous sources familiar with the matter, banks are anticipated to refinance a combined sum of $3.5 billion, the report said.
It is reported that Adani is expected to make a repayment of at least $300 million on the initial Ambuja facility, it added.
DBS Group Holdings Ltd., First Abu Dhabi Bank PJSC, Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group, Inc. and Sumitomo Mitsui Banking Corp. would each lend about $400 million, said the people. Other banks would lend smaller amounts, said the report.
The ongoing negotiations indicate a return to normalcy for the conglomerate, following turbulence caused by allegations of misconduct from US shortseller Hindenburg Research. At its peak, this controversy resulted in a reduction of over $150 billion in the company's stock value. Adani officials have consistently refuted these claims.
In response to Bloomberg's inquiry, an Adani spokesperson stated that the group refrains from commenting on routine business matters and speculations.
SMBC and First Abu Dhabi did not provide a response to Bloomberg's email request for comment.
Representatives from both MUFG and Mizuho declined to comment. A representative from DBS mentioned that the bank doesn't comment on specific deals, the report said.
The ongoing negotiations indicate a return to normalcy for the conglomerate, following turbulence caused by allegations of misconduct from US shortseller Hindenburg Research.
At its peak, this controversy resulted in a reduction of over $150 billion in the company's stock value. Adani officials have consistently refuted these claims.
In response to Bloomberg's inquiry, an Adani spokesperson stated that the group refrains from commenting on routine business matters and speculations.