Adani plans $2.5 bn refinancing in India's biggest offshore loan this year

•The Adani Group plans to raise $2.5 billion through a refinancing loan, India's largest offshore loan this year.

•The loan will be split into two parts: a $1.5 billion bridge loan and a $1 billion five-year loan, priced at 150 and 275 basis points over SOFR, respectively.

•The refinancing will involve State Bank of India, HDFC Bank, and other lenders, with a likely closure before the end of October.

•The loan aims to refinance debt used to buy Ambuja Cements and ACC Ltd., with a second leg planned for 2027.