Adani plans to prepay $500 million loan due in March to banking group

The Adani Group plans to prepay a $500 million loan due next month to a group of banks as the Indian conglomerate looks to bolster its finances following a short seller attack.

Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year. A portion of that loan is due March 9.

An Adani spokesperson said the conglomerate had been in talks with banks to refinance that part of the loan but has decided to prepay it. The spokesperson said discussions with the banks have