Blackrock became the biggest investor in Adani group’s $ 75 million bond
New Delhi:
The fund managed by global investment firm Blackrock has emerged as the biggest customer of private bonds of $ 75 million released by Adani Group. Sources in the case said that the US asset management company, which oversees properties worth about 12 million million dollars, has taken one-third of the $ 75 million bond issue. The duration of these bonds is three to five years old.
This move by Blackrock is its first private investment in India’s infrastructure sector. The investment firm is currently emphasizing on the infrastructure segment. Blackrock Chairman Larry Fink said in January 2024, “The infrastructure is one of the most exciting long -term investment opportunities, as many structural changes give a new shape to the global economy.”
Last year, the company acquired Global Infrastructure Partners (GIP), a company operating in port, electricity and digital infrastructure, for $ 12.5 billion.
Apart from Blackrock, five other institutional investors also attended the latest capital collection initiative of Adani Group. These included the funds managed by the gold asset management.
A 75 million bonds issued by Renew Exim DMCC, a full-owned unit of the promoter family of Adani Group, will be used for the acquisition of ITD cementation and funding other growth initiatives.
Adani group sees the entry of the world’s largest investor firm as a strong belief. This is the second private dollar bond issued by Adani Group. In February too, the group raised about $ 200 million to operate its Australian port.
(This news has not been edited by the NDTV team. It has been published directly from the syndicate feed.)
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