An Adani Group joint task with EdgeConneX is in talks with approximately 1/2 of a dozen banks for a mortgage of approximately $220 million, which will be the conglomerate`s first offshore borrowing because it turned into focused with the aid of using shortseller Hindenburg Research.
Data middle company AdaniConneX Private Ltd. might use the cash for capital expenditure, with a 5 12 months tenor below discussion, in step with humans acquainted with the problem, who requested now no longer to be diagnosed due to the fact the problem is private. The mortgage can be signed withinside the following few weeks, they said.
A consultant for Adani Group declined to comment.
The conglomerate subsidized with the aid of using Indian billionaire Gautam Adani has been compelled to reevaluate its goals after US-primarily based totally Hindenburg accused it of inventory manipulation and accounting fraud. While the institution has denied the allegations, its inventory and bond charges slumped.
Flagship Adani Enterprises Ltd. in January shelved a plan to elevate as lots as 10 billion rupees ($121 million) in what might had been its first auction of bonds.
Data compiled with the aid of using Bloomberg display no US greenback bonds and loans taken out with the aid of using Adani Green Energy Ltd., Adani Ports and Special Economic Zone Ltd. and Adani Enterprises Ltd. for the reason that file turned into released.
Adani Group executives met US traders as a part of its plans to marketplace privately positioned bonds of as lots as $1 billion in tranches this 12 months, Bloomberg pronounced past due closing month, bringing up humans acquainted with the problem.
