BlackRock subscribed to about US$250 million of Adani Group’s private placement of bonds in the offshore market, said the people, who asked not to be identified as the information is private. The tenor of the bonds is between three to five years, the people said.
Representatives of Adani Group and BlackRock declined to comment.
Last year, Renew agreed to buy ITD Cementation’s stake from Thailand’s largest contractor for 32 billion rupees. Adani Group said Renew Exim has successfully completed an open offer as a precursor to the acquisition.
The Adani Group received a loan for its coal port unit in Australia earlier this year. The latest borrowing is nearly four times as large, signaling growing comfort among global investors toward the ports-to-power conglomerate. The fundraising would be the firm’s biggest since the U.S. Department of Justice indicted Adani over an alleged bribery plot in November.
