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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.
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