A representative of Adani Group declined to comment.
The transaction hasn’t been finished and the terms could still change. But if signed before late December, it would be one of the 20-biggest major currency loans in Asia this year, according to Bloomberg-compiled data.
The potential capital raising adds to evidence the conglomerate has at least partially rebuilt investor confidence after being thrown into a tailspin by allegations of malpractice by short seller Hindenburg Research. That caused some banks to balk at debt refinancing early this year.
Adani has repeatedly denied the accusations, and in a sign of improved sentiment the group completed a US$3.5 billion funding package to refinance debt used to purchase Ambuja Cements Ltd. and ACC Ltd.
