Two entities under the Adani Group are in advanced negotiations to secure around $250 million in offshore bilateral loans from Mitsubishi UFJ Financial Group (MUFG), according to a Bloomberg report citing sources familiar with the matter.

Adani Ports and Special Economic Zone is expected to raise approximately $100 million, while Adani Airport Holdings aims to secure about $150 million. The agreement related to the ports business could be finalised as early as this week. In addition to MUFG, both companies are also reportedly exploring funding options with other Japanese banks.

This marks MUFG’s first bilateral loan arrangement with the Adani Group since November 2024, when the US Department of Justice indicted Gautam Adani in connection with an alleged bribery case involving $250 million paid to Indian officials to win solar power contracts. In May, Adani Ports had already raised a similar$150 million bilateral loan from DBS Group Holdings.

More recently, the Adani Group has come under renewed scrutiny, with US prosecutors reportedly investigating whether its companies facilitated the import of Iranian liquefied petroleum gas (LPG) into India via the Mundra port. The Wall Street Journal reported that the US Justice Department is reviewing the activities of multiple tankers believed to have delivered Iranian-origin LPG to Adani Enterprises, which may constitute a breach of US sanctions.

News source: Financial Express