Team News Riveting
Ahmedabad, January 28
Adani Ports and Special Economic Zone Limited (APSEZ), the ports and logistics arm of the diversified Adani Group, successfully priced a USD 500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10 per cent on January 26, 2020.
The offering received tremendous participation from marquee investors across key markets and geographies which enabled the order book to build around 6x leading to tightening of spreads and pricing under fair value.
This was the second issuance for APSEZ and third for the port vertical company of Adani Group in the current financial year with total issuance amounting to over USD 1.50 billion.
Karan Adani, Chief Executive Officer (CEO) and Whole Time Director of APSEZ said, “Current issuance is part of our capital management program to extend debt maturity and refinance debt well in advance of maturity. The strong global demand has enabled us to price the issuance at the most competitive rate in APSEZ history.”
Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani Group, has evolved from a port company to Ports and Logistics Platform for India. It is the largest port developer and operator in India with 11 strategically located ports and terminals — Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai and Krishnapatnam in Andhra Pradesh — represent 24 per cent of the country’s total port capacity, handling vast amounts of cargo from both coastal areas and the vast hinterland.
The company is also developing a transhipment port at Vizhinjam, Kerala and a container Terminal at Myanmar.
