Adani Group Founders Prepay $902 Million Share-backed Loans
- Payment comes on top of another $1.1 billion paid in February
- Founders had committed to repay share-backed debt by March end
Gautam Adani
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Billionaire Gautam Adani and his family prepaid $902 million worth of borrowings backed by shares as the ports-to-power conglomerate seeks to pare all share-backed loans by March end to allay investor fears.
The founders’ early payment comes on top of last month’s $1.1 billion prepayment and will help release 36 million shares in Adani Transmission Ltd. As many as 155 million shares of Adani Ports & Special Economic Zone Ltd. will be released along with 11 million shares of Adani Green Energy Ltd. and 31 million shares of Adani Enterprises Ltd., the group said in a statement Tuesday.