New Delhi: Adani Cement on Friday said it has refinanced $ 3.5 billion loan it had taken for the acquisition of ACC and Ambuja Cement.

As many as 10 international banks refinanced the facility, the firm said in a statement.

"The re-financing programme of $ 3.5 billion has been concluded with a clutch of international banks with debt maturity of up to 3 years, testifies the strong support and access to capital, supplementing the solid capital prudency adopted at all portfolio companies," it said.

PSU Watch is now on Whatsapp Channels. Click here to join.

The Adani Group, through a special purpose vehicle, had acquied Ambuja Cements Ltd and ACC Ltd in September 2022 and became India’s second largest cement manufacturer.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)