Two entities under Adani Group are in advanced discussions to raise a combined $250 million in offshore loans from Mitsubishi UFJ Financial Group (MUFG), people with knowledge of the matter said.
Separate loan agreements underway
Adani Ports and Special Economic Zone Ltd is set to raise around $100 million, while Adani Airport Holdings Ltd is expected to secure about $150 million, the people said, requesting anonymity as the discussions are private. The deal with Adani Ports could be signed as early as this week. Both companies are also in talks with other Japanese lenders for additional borrowing, the sources said.
This would be MUFG’s first bilateral loan agreement with Adani Group since the United States Department of Justice indicted group chairman Gautam Adani in November in connection with an alleged bribery scheme.
In May, Adani Ports raised $150 million in a similar bilateral arrangement with Singapore-based DBS Group Holdings Ltd.