From The Economic Times · Reuters · · 40s
Aditya Birla seeks $1.5bn rupee loans for Shell renewable energy buy
Aditya Birla Renewables aims to secure $1.5 billion in rupee loans to acquire Shell's Solenergi Power unit.
In brief
Aditya Birla Renewables aims to secure $1.5 billion in rupee loans to acquire Shell's Solenergi Power unit. Aditya Birla Renewables plans to raise $1.5 billion in rupee-denominated loans to fund the purchase of Shell's Indian renewable energy arm. Originally reported by The Economic Times.
Aditya Birla Renewables
Aditya Birla Renewables seeks $1.5 billion in rupee-denominated loans to fund the acquisition of Shell Plc's Indian renewable energy arm.
Acquisition Details
The renewable-energy arm agreed in July to acquire Solenergi Power for $1.8 billion, avoiding a costlier bridge loan.
Financing Strategy
ABRen has secured a $1.6 billion bridge loan commitment from MUFG Bank and now seeks longer-term rupee-denominated loans at the project level.
What it means
Aditya Birla Renewables plans to raise $1.5 billion in rupee-denominated loans to fund the purchase of Shell's Indian renewable energy arm.
