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Adani Cement refinanced loan of 3.5 billion dollars, got loans from 10 international banks
Adani Cement, the cement company of the Adani Group, today announced that it has refinanced its $3.5 billion loan to acquire ACC and Ambuja Cements. At least ten international banks have supported this refinancing. According to media reports, these banks include Barclays Deutsche Bank and Standard Chartered Bank among others.
Adani Cement, the cement company of billionaire Gautam Adani's Adani Group, today said that the company has refinanced the US$ 3.5 billion loan taken for the acquisition of ACC and Ambuja Cement.
The group said that at least 10 international banks have refinanced this loan. According to media reports, these banks include Barclays, Deutsche Bank Standard Chartered, and other banks.
Loan refinance in simple words means replacing an existing loan with another loan with more favorable terms and conditions. In other words, loan refinancing means replacing the existing loan with a new loan.
Loan refinance is typically used to take advantage of new financing that offers more favorable terms and conditions. In such a situation, a person or company settles its existing outstanding loans by issuing new loans with more favorable terms or conditions.
