Adani Joint Venture Is in Talks for First Dollar Loan Since Hindenburg

An Adani Group joint venture with EdgeConneX is in talks with about half a dozen banks for a loan of about $220 million, which would be the conglomerate’s first offshore borrowing since it was targeted by shortseller Hindenburg Research.

Data center provider AdaniConneX Private Ltd. would use the money for capital expenditure, with a five year tenor under discussion, according to people familiar with the matter, who asked not to be identified because the matter is private. The loan may be signed in the next few weeks, they said.