Adani Group completes $2.65 billion deleveraging program; cash balance at over $4.75 bln
The Adani group has reduced the debt on books by $2.65 billion through prepayment of share-backed loans and the loan taken to acquire Ambuja Cements.
The net debt to EBITDA ratio is now at 2.81 times, the group said in a credit update.
“The deleveraging program testifies the strong liquidity management and capital access at sponsor level even in volatile market condition, supplementing the solid capital prudency adopted at all portfolio companies,” the group said.
