Adani Cement refinances USD 3.5 Bn, completes acquisition debt for Ambuja Cement

Adani Cement, through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing program for acquisition debt taken for Ambuja and ACC, through a USD 3,500 million financing package, raised from a clutch of international banks. This showcases Adani’s robust access to the global financial market and strong liquidity position.

This achievement reflects their commitment to financial stability and growth. This facility will result in an overall cost saving of ~ USD 300 million for the Adani Cement vertical.

Adani Cement is the second largest cement player in India, with the USD 6.6 billion acquisition of Ambuja and ACC (two of the storied brands of India) completed by the Adani cement, the largest acquisition in infrastructure and materials space concluded in Sep 22. The USD 3.5 billion facility marks the continued execution of the capital management plan outlined in Sep 2022 that will see step wise planned deleveraging of Adani Cement.

Currently, Ambuja Cements and ACC have a combined installed production capacity of 67 MTPA to conclusively mover to 100 MTPA by 2025 with the announced acquisition of Sanghi Cement. ACC & Ambuja are among the strongest brands in India.

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