BlackRock Inc. (NYSE:BLK) and Citadel are reportedly in discussions with India’s Adani Group to acquire $750 million in debt as the conglomerate seeks refinancing, according to the Economic Times. The move comes as Adani restructures its financial obligations, including senior secured private placement notes from Mumbai International Airport Ltd. (MIAL), which Apollo Global Management (NYSE:APO) acquired in 2022.
The refinancing effort is crucial as the terms of these notes are set to become more stringent after April-May 2025. Apollo is expected to roll over part of its exposure, while Adani is also securing an additional $750 million for Adani Airports Holdings Ltd. (AAHL) to fund expansion.
Adani, India’s largest private airport operator, manages major hubs in Mumbai, Ahmedabad, and Lucknow. The group, active in the airport sector since 2019, is also eyeing investment opportunities in the U.S. despite legal hurdles.
While discussions with BlackRock and Citadel are ongoing, no agreements have been finalized. A Citadel spokesperson, however, denied the claims in the Economic Times report.
The Adani Group continues to navigate its financial landscape amid global scrutiny, focusing on strategic refinancing to maintain stability and expansion.


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