Adani’s $3.5 billion Ambuja loan moves ahead after some banks get approval
A group of banks that have been in talks to lend about $250 million each toward a syndicated loan of about $3.5 billion to refinance debt which the Adani Group took out to fund its purchase of Ambuja Cements Ltd. have received internal approval for the deal, according to people familiar with the matter.The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc, said the people, asking not to be identified when discussing a private matter. They’re part of a larger consortium in talks for the syndicated loan to billionaire Gautam Adani’s conglomerate. Some institutions were in discussions to lend $400 million each, in what could become one of the biggest loan deals in Asia this year, Bloomberg reported last month citing people familiar with the matter. No new information ...