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The Adani group is in talks with several foreign banks about refinancing $3.5 billion in bridge loans taken out this year for the acquisitions of Ambuja Cement and ACC. The loans were taken out by the Mauritius-based promoter entity Endeavour Trade and Investment, a special purpose vehicle that purchased Ambuja Cement's stake from Swiss cement giant Holcim in an all-cash $6.5 billion transaction. The refinanced loans' terms will be extended to five years. Adani currently controls 63.15 per cent of Ambuja Cement and 56.69 per cent of ACC (of which a 50.05 per cent stake is held through Ambuja Cement). Soon after taking over the companies in September, the promoters agreed to invest an additional Rs 200 billion in order to double the company's capacity. The combined installed production capacity of Ambuja Cement and ACC is 67.5 million tonne per year. According to bankers, the earlier Holcim stake acquisition transaction was financed by $4.5 billion in loans from 14 international banks, demonstrating foreign banks' confidence in Indian companies. Also read: Railways has earned Rs 1059.05 billion from freight loading till Nov'22 REC and PFC signs MoU for the fiscal year 2022-23