Day 4 Of Navratri: Worshipping Goddess Kushmanda
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
PM Modi lauded Navy officers Lieutenant Commanders Dilna and Roopa for completing the ‘Navika Sagar…
During his latest address on ‘Mann Ki Baat’, PM Modi highlighted India’s initiative to nominate…
Prime Minister Narendra Modi paid homage to revolutionary Bhagat Singh and legendary singer Lata Mangeshkar…
Prime Minister Narendra Modi extended greetings on the sixth day of Shardiya Navratri, dedicated to…
India walked out of the UN General Assembly after Pakistan responded to External Affairs Minister…
External Affairs Minister S Jaishankar delivered a carefully crafted speech at the United Nations General…