Adani Ports taps DBS for $150 mn capex loan, first global bank deal since probe

Business Standard

22-05-2025

Adani Ports and Special Economic Zone Ltd. (APSEZ) has reportedly secured approximately $150 million through a bilateral loan arrangement with Singapore-based DBS Group Holdings Ltd., according to a Bloomberg report. The four-year loan is aimed at funding the company's capital expenditure plans, it said.
This marks the conglomerate's first bilateral loan from a global financial institution since the US Department of Justice filed bribery-related charges against it in November. The loan is seen as a signal of gradually improving lender sentiment toward the group, whose portfolio spans ports, logistics, energy and infrastructure.
Loan pricing and terms reflect easing risk perception
The facility is reportedly priced around 200 basis points above the Secured Overnight Financing Rate (SOFR). Including hedging costs, the total cost of the loan is estimated at about 5.5 per cent, said one of the individuals. While DBS declined to comment on the development, a representative for the Adani Group also did not provide an immediate response.
Adani re-engages global investors with new bond and loan plans
Just last month, the Adani Group raised roughly $750 million via an offshore private placement bond issuance to finance the acquisition of a construction company. Asset management giant BlackRock Inc. reportedly took up about one-third of the issue.
In parallel, Adani is currently in discussions with several international banks, including Barclays Plc, First Abu Dhabi Bank PJSC, and Standard Chartered Bank Plc, for a potential $750 million loan to support its airport business.
Meanwhile, Adani Group representatives have met with officials from the US administration to explore the possibility of having the bribery-related charges dropped, Bloomberg reported earlier this month.
Earlier this month, APSEZ reported a 47.8 per cent year-on-year rise in net profit attributable to equity shareholders for the fourth quarter of FY25, fuelled by a steady increase in cargo throughput.
The company recorded a quarterly profit of ₹3,014.22 crore, surpassing Bloomberg's analyst consensus of ₹2,662.1 crore. Total cargo volumes during the period climbed 8 per cent from the previous year to reach 117.9 million metric tonnes, driven primarily by robust growth in container traffic.
Operational revenue for the quarter jumped 23.1 per cent year-on-year to ₹8,488.44 crore, outpacing the projected ₹8,094.4 crore. Meanwhile, total expenses for the quarter stood at ₹5,382.13 crore, marking a 20.93 per cent rise compared to the same period last year.