BlackRock, Citadel in talks to buy $750 mln debt from India’s Adani, ET reports

Investing.com-- Two prominent Wall Street firms BlackRock Inc (NYSE:BLK) and Citadel are in discussions with India’s Adani Group to acquire $750 million in debt as the conglomerate seeks refinancing, the Economic Times reported on Tuesday citing sources familiar with the matter.

The negotiations come as Adani works to restructure its obligations, including senior secured private placement notes from Mumbai International Airport Ltd (MIAL), which Apollo Global Management (NYSE:APO) had previously acquired in 2022, the ET report stated.

The terms of the notes become more punitive after April-May 2025, prompting efforts to refinance, the Economic Times reported.

Apollo is expected to roll over part of its exposure, while Adani is also seeking an additional $750 million in funding at Adani Airports Holdings Ltd (AAHL) to support expansion. Discussions with BlackRock and Citadel remain ongoing, but no agreement has been finalized, according to the report.

Adani, which has operated in the airport sector since 2019, is India’s largest private airport operator, managing major hubs including Mumbai, Ahmedabad, and Lucknow. The group has also been exploring investment opportunities in the U.S., despite legal challenges.

A Citadel spokesperson told the Economic Times that the reported information was incorrect.

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