Adani Cement refinances $ 3.5 billion loan

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.

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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.

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