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Adani Group Secures $3 Bn Credit From Sovereign Wealth Fund: Report
Adani Group has told creditors it has secured $3 bn loan from a sovereign wealth fund, two sources with knowledge of the matter said, as the embattled conglomerate seeks to ease concerns
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Adani Group | Sovereign Wealth Funds
India's Adani Group has told creditors it has secured $3 billion loan from a sovereign wealth fund, two sources with knowledge of the matter said, as the embattled conglomerate seeks to ease concerns about its credit profile after a short-seller attack.
The credit line from the sovereign wealth fund could be upsized to $5 billion, said the two sources, citing a memo that was circulated to participants as highlights of a three-day investor roadshow ending on Wednesday.
The identity of the sovereign wealth fund was not disclosed in the memo.
The sources declined to be identified as they were not authorised to speak with media.
A spokesperson for Adani did not immediately respond to a Reuters request for comment.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Wed, March 01 2023. 14:17 IST
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