BlackRock (BLK) has subscribed to about a third of Adani Group's $750 million offshore private placement bond to back the acquisition of a construction firm, Bloomberg reported Wednesday, citing people familiar with the matter.
Adani said Wednesday in a statement that a group of international investors, including BlackRock, participated in a bond to back the acquisition of ITD Cementation by Adani unit Renew Exim. Adani didn't provide any details of the bond.
Bloomberg reported that BlackRock subscribed to roughly $250 million of Adani's bond, which has a tenor between three and five years.
BlackRock didn't immediately respond to a request for comment by MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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