Adani says no refinancing, Adani looks to repay $500 million bridge loan

 In its most recent effort to reassure investors alarmed by a damning U.S. short-report seller's on its business operations, the Adani group of India stated on Tuesday that neither its firms nor the near-term liquidity challenges they confront pose any major refinancing risk.

The group of seven listed firms headed by billionaire Gautam Adani has collectively lost almost $120 billion in market value since a Hindenburg Research study on January 24 accused inappropriate use of offshore tax havens and stock manipulation and raised concerns about heavy debt.

Adani has answered in-depth the accusations and criticisms made in the Hindenberg assessment that it has unmanageable debt.

According to two people with knowledge of the situation, the Adani Group is in negotiations with lenders to repay the $500 million bridging loan facility it used to acquire a majority stake in Holcim's cement plants last year. The $5.25 billion financing package included a $3 billion senior debt with an 18-month maturity date, a $1 billion mezzanine facility with a 24-month maturity date, and a $750 million loan secured by shares. The bridge loan has a six-month term.

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