Financing is so tight for the Adani Group after its shares got savaged by Hindenburg that it plans a $500 million loan prepayment by P R SANJAI, SUVASHREE GHOSH, STEVEN ARONS AND BLOOMBERG FFebruary 9, 2023 https://fortune.com/2023/02/08/gautam-adani-group-prepay-500-million-bridge-loan-financing-hindenburg-short-seller/ This marks the second time in a week that the group has taken steps to prepay debt as it fights to regain investor confidence and stem the stock rout. Billionaire Gautam Adani and his family have prepaid $1.11 billion worth of borrowings backed by shares, the group said Monday.
Adani faced a margin call of more than $500 million on that loan, prompting the Indian tycoon to repay the whole debt, Financial Times reported Wednesday. The Adani Group said it didn’t receive a formal request for a margin call and that the loan was repaid early “per our prepayment planning,” the paper reported.
Adani faced margin call on $1.1bn loan before repaying in full - https://www.ft.com/content/b5ad1852-dd09-4b38-8d74-c2a99462395f Comment BY SS From "Prepaid" to "Repaid": All Too Fast!
Gautam Adani, whose Indian business empire is under pressure over fraud allegations, repaid a $1.1bn share-backed loan last week after facing a margin call of more than $500mn, according to four people with direct knowledge of the matter. They said the repayment was designed to avoid further damage to investor confidence in the group.
Rather than post cash against the loan, which did not mature until September 2024, the Adani Group’s founder and his family opted to repay it completely. Adani has not disclosed the source of the funds used to repay the loan.