Adani Green secures $250 million foreign loan to refinance debt

Adani Green Energy Ltd, led by Indian billionaire Gautam Adani, has secured around $250 million from a consortium of international banks, marking its first foreign currency loan since a US Department of Justice indictment. The funding will be used to refinance existing debt.

The credit is being provided by DBS Bank Ltd., DZ Bank, Rabobank, and Bank SinoPac Co Ltd. The loan has a tenor of over five years with an interest rate of roughly 8.20%. DZ Bank confirmed its participation, while other parties did not comment publicly.

The move aligns with the Adani Group’s plan to reduce leverage over the next five years. The group does not intend to issue bonds in international markets until 2027. Earlier in March, Adani Green refinanced a construction-linked loan of 92.61 billion rupees ($1 billion) with India’s Power Finance Corporation Ltd.