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Aditya Birla Renewables reportedly seeks $1.5 billion in rupee loans to buy Shell’s Solenergi Power
The Economic Times publishes a Reuters report saying bankers expect longer-term loans to replace costlier bridge financing.
TLDR
Reuters reports in The Economic Times that Aditya Birla Renewables is seeking $1.5 billion in rupee-denominated loans to fund its agreed $1.8 billion purchase of Shell’s Indian renewable-energy unit, Solenergi Power. Bankers familiar with the discussions say the company wants longer-term project loans instead of using a $1.6 billion bridge loan commitment from MUFG Bank. The acquisition had not closed when Reuters reported the financing talks.
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