New Delhi, Feb 9: After making headlines defending the Hindenburg report, Adani Group is planning to prepay a $500 million loan due next month to a group of foreign banks including Barclays Plc and Standard Chartered, Bloomberg reported on Wednesday.
Barclays Plc, Standard Chartered Plc, and Deutsche Bank AG are among the banks that lent the group $4.5 billion to finance the purchase of Holcim cement assets last year, the report said. A portion of that loan is due on March 9.
Financial Times reported that the Adani Group faced a margin call of more than $500 million on a $1.1 billion share-backed loan, prompting the conglomerate to repay the whole debt, according to Reuters.
However, share prices of Adani Enterprises jumped as much as 25 percent on Tuesday after the firm announced to prepay more than $1 billion in loans.
The conglomerate has called the report “bogus,” and threatened legal action. Adani gave a video speech last week stating that the group’s balance sheet is healthy
