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Payment of $ 200 million, now Adani has repaid the debt of this company

Adani Group has been repaying the loans with great speed for the last few months. In this episode, the Adani group has now lightened the debt of another company (Adani Debt Repayment) and for this it has paid $ 200 million this time. This is the latest part of a series of efforts by the Adani group to reduce the debt on its companies.

Loan was taken for this deal

According to a Bloomberg report, Adani Cement Industries Ltd of Adani Group had taken loans from several banks last year. This company had taken loans from several global banks in May last year to buy the Indian business of Swiss company Holcim. Adani Cement bought Holcim’s Indian business for $10.5 billion. A part of the loan taken by Adani Cement for this deal has now been repaid ahead of time.

This is how you can get help

As per the report, Adani Cement Industries Ltd has paid $200 million last week, which has helped it bring down the total debt taken during the acquisition of Holcim’s Indian business by $1 billion. It has been said in the news that with this premature payment, the Adani group can get an extension of 3 years on the loan taken at the time of the deal.

Got so much loan from banks

Banks had lent $4.5 billion to the Adani group to finance the deal to buy Holcim Cement’s Indian business. The rest $6 billion was arranged by the Adani group from other sources including internal accounts. The $4.5 billion debt raised from banks was to mature in September 2024. Now the Adani group may get additional time to fully repay this loan.

Deal was important for Adani

Let us tell you that Adani Group had bought the Indian business of Holcim Cement from a strategic point of view. This deal made the Adani group India’s second largest cement manufacturer in one stroke and Adani group got two ready-made old brands like Ambuja Cement and ACC Cement. Explaining the importance of the deal, Gautam Adani himself had said that it is historic.

These payments have been made

The Adani group has changed its business strategy after the Hindenburg Adani Report. Now the company is focusing on the repayment of loans (Adani Debt Repayment) instead of starting a new business. The Adani group had earlier repaid bonds worth at least $3 billion during the March quarter. At the same time, at least $ 2.54 billion has been spent to redeem the shares of the group’s four companies Adani Enterprises Limited, Adani Ports and SEZ Limited, Adani Transmission Limited and Adani Green Energy Limited, which were pledged by the promoters. The Adani group had paid commercial papers worth at least Rs 3,650 crore. These commercial papers were sold to three domestic mutual funds. Of these, Rs 2,750 crore was paid to SBI Mutual Fund, Rs 500 crore to Aditya Birla Sun Life Mutual Fund and Rs 450 crore to HDFC Mutual Fund.

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