Market Chatter: Avaada Group Founder Seeking $750 Million Loan to Refinance Debt

MT Newswires Live07-08

Brookfield Renewable Partners-backed (BEP) Avaada Group's founder and chairman Vineet Mittal is seeking to borrow about $750 million from a group of lenders to refinance the clean-energy company's debt, Bloomberg reported late Monday, citing people familiar with the matter.

Proceeds will be used to repay a $1 billion credit facility issued by Brookfield to Avaada Ventures in 2023, the people told the media outlet.

Avaada did not immediately respond to a request for comment from 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.)

Price: 33.06, Change: -0.73, Percent Change: -2.16

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