BlackRock, Citadel in talks to buy $750 mln debt from India’s Adani, ET reports

Published 04/03/2025, 05:00
© Reuters

Investing.com-- Two prominent Wall Street firms BlackRock Inc (NYSE:BLK) and Citadel are in discussions with India’s Adani Group to acquire $750 million in debt as the conglomerate seeks refinancing, the Economic Times reported on Tuesday citing sources familiar with the matter.

The negotiations come as Adani works to restructure its obligations, including senior secured private placement notes from Mumbai International Airport Ltd (MIAL), which Apollo Global Management (NYSE:APO) had previously acquired in 2022, the ET report stated.

The terms of the notes become more punitive after April-May 2025, prompting efforts to refinance, the Economic Times reported.

Apollo is expected to roll over part of its exposure, while Adani is also seeking an additional $750 million in funding at Adani Airports Holdings Ltd (AAHL) to support expansion. Discussions with BlackRock and Citadel remain ongoing, but no agreement has been finalized, according to the report.

Adani, which has operated in the airport sector since 2019, is India’s largest private airport operator, managing major hubs including Mumbai, Ahmedabad, and Lucknow. The group has also been exploring investment opportunities in the U.S., despite legal challenges.

A Citadel spokesperson told the Economic Times that the reported information was incorrect.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.