AdaniConneX Establishes Sustainability Linked Financing Network By CIOTechOutlook Team

AdaniConneX Establishes Sustainability Linked Financing Network

CIOTechOutlook Team | Monday, 29 April 2024, 03:26 IST

AdaniConneX, the data center joint venture between Adani Enterprises and EdgeConneX, has established a sustainability-linked financing framework to secure funds totaling up to $1.44 billion. Agreements have been finalized with eight international banks.

"The financing initially entails a commitment of $875 million, with an option to increase the commitment up to $1.44 billion. Definitive agreements have been reached with eight international lenders - ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank, Natixis, Standard Chartered Bank, Societe Generale, and Sumitomo Mitsui Banking Corporation," stated AdaniConnex in a Sunday announcement.

Earlier, on April 18, ET reported that AdaniConneX was in discussions with several international banks to secure $1.2-1.4 billion in offshore loans to bolster its expansion plans, a deal expected to be finalized within the next few weeks. AdaniConnex noted that this recent agreement increases its construction financing pool to $1.65 billion.