Aditya Birla Seeks 1.5B Loan for Shell Arm
Aditya Birla Renewables is seeking 1.5 billion dollars in rupee loans to fund its acquisition of Shell Plc's Indian renewable energy arm. The firm aims to avoid costlier bridge debt by securing longer-term project financing from major Indian banks.
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Aditya Birla Renewables is seeking $1.5 billion in rupee-denominated loans in India to fund the acquisition of SHELL PLC's renewable arm and bypass a bridge facility. The financing shift follows the group's July agreement to buy Solenergi Power for $1.8 billion. Securing longer-term local debt lowers the transaction's overall funding costs ahead of closing.
