Adani Group repays loans worth $2.65 bn to complete prepayment programme

Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller.

In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate’s listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement.

“The prepayment was done along with interest payment of USD 203 million,” it added.

Further, the credit update states that the promoters completed the sale of shares in four listed group entities to GQG Partners,