A unit of billionaire Kumar Mangalam Birla’s conglomerate has lined up around $1.5 billion of acquisition financing from Mitsubishi UFJ Financial Group Inc. to fund its purchase of Shell Plc’s renewable energy assets in the country, according to people familiar with the matter.
Japan’s largest lender has solely underwritten the facility, which will be raised through the so-called external commercial borrowing route with a five-year tenor, the people said, asking not to be identified because the discussions are private. Aditya Birla Renewables Ltd. is the borrower.
