In keeping with the promoters’ promise to repay the promoter leverage, the Adani Group has fully prepaid the margin-linked share-backed financing of $2.15 billion ahead of the committed deadline of March 31 2023.
A press statement from the group said the promoters had pre-paid a $500 million facility taken out for Ambuja acquisition finance in addition to the foregoing. This is consistent with the promoters’ intention to raise equity contributions. The promoters have now invested $2.6 billion of the total acquisition value of $6.6 billion for Ambuja and ACC.
The $2.65 billion prepayment programme was completed in six weeks, demonstrating robust liquidity management and availability to cash at the sponsor level, supporting the solid capital prudence adopted by all portfolio companies.