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Billionaire Birla Unit’s Buyout Loan Draws $2.5 Billion in Bids
Source: Bloomberg
Banking & LiquidityM&A & RestructuringCorporate Guidance & OutlookCredit & Bond Markets
An Indian unit of Kumar Mangalam Birla’s conglomerate secured acquisition financing commitments of up to 240 billion rupees ($2.5 billion) from at least four banks, about 70% more than originally planned. The expanded loan backing suggests improved deal funding prospects and reduces execution risk for the acquisition.
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