Adani Cement announced on Friday that it has refinanced the USD 3.5 billion debt it took to acquire ACC and Ambuja Cement.
According to the corporation, up to ten multinational institutions refinanced the facility.
In a statement, the company said, “The re-financing program of USD 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 prudence adopted at all portfolio companies”.
“This showcases Adani’s robust access to the global financial market and strong liquidity position. This achievement reflects our commitment to financial stability and growth”, the statement reads.
“The refinance will lead to a cost savings of USD 300 million”, the statement added.
Adani Cement acquired Ambuja and ACC in September of last year for USD 6.6 billion, making it the country’s second-largest cement manufacturer.
Also read: 40% Of India’s Oil Comes From Russia
Mass whale strandings: what is behind the recent spate of ‘suicidal’ urges?
PM Modi Arrives In Moscow For Crucial 2-Day Visit, Set To Meet President Putin
India’s Snacks pick Presents Blend Of Trendiness And Tradition
Universe vs Humans: The Cosmic Scale Tells the Tale
Jagannath Ratra 2024: 8 Places To Visit In Puri
10 Countries Where People Want To Relocate
Why We Can’t Fly Airplane In space
UK General Elections 2024 Reactions
8 Costliest Cities In The World
8 Smartphone Launches In Second half Of 2024
Snake Village; Booming Snake Farming Business In China
Apart from Earth, a huge water reservoir is found here in the universe! The discovery will leave you astonished
8 Countries With Longest Paid Maternity Leave
Top 5 Haunted Places in India
5 Types Of Foods That Will Help Lose Belly Fat
5 Places To Visit In Himachal Pradesh In Monsoon
Early Monsoon In Delhi Claimed 8 lives on Friday
First Day Of Monsoon Season: Delhi’s Infrastructure Collapses
8 Houseplants that absorb moisture in monsoon
7 Best Medical Courses To Pursue After 12th Without NEET Exam
