Adani Total Gas secures $375 mn financing from global lenders

Adani Total Gas Ltd (ATGL) has secured maiden financing of $375 million from the global lenders, the company said in a media statement on Friday.

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The ATGL has entered into an overall financing framework that will enable the company to secure future funding based on its business plan.The maiden financing of $375 million executed with international lenders includes an initial commitment of $315 million with accordion feature to enhance the commitments.

The five international lenders participated in the initial financing, which includes BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.

The facility will fast track the capital expenditure program, enabling ATGL to rapidly expand its CGD network into its 34 authorised Geographical Areas (GAs) across 13 states.