Adani Group Looks To Raise $10 Billion Debt In Lower-cost Debt, Green Bonds: Report

The multinational conglomerate, headed by Indian billionaire Gautam Adani, is planning to raise at least $10 billion in fresh debt over the next year in a bid to refinance its high-cost borrowings and fund projects in the pipeline, according to a Bloomberg report.  
 
Making use of multiple instruments such as foreign currency debt and green bonds, the group seeks to raise up to $6 billion to swap its current high-interest debt with lower-cost borrowings. The rest will be deployed for project financing, as per details in the report.  
 
Adani, currently the world's fourth richest man, has been diversifying his acquisitions into sectors such as green energy, media and digital services. The debt raising move, which is reported to start in the ongoing December quarter, will lower the group's overall burden of payments.  

As Adani's wealth has expanded exponentially, growing over 1400% in last 5 years alone, concerns have been raised about Adani group's high leverage ratios. Despite this, and rising interest costs worldwide, the group is confident on securing low-cost loans, the report suggested.