Adani Ports raises $500 mn via dollar bonds from marquee investors

This was the second issuance for APSEZ, third for the port vertical company of Adani Group this financial year with total issuance amounting to over $1.5 billion

Adani Ports and Special Economic Zone Limited (APSEZ), the ports & logistics company of the Adani Group, successfully priced a $500 million 10-year bullet senior unsecured USD note issuance at a fixed coupon of 3.10 per cent. 

The offering received tremendous participation from marquee investors across key markets and geographies which enabled the order book to build around 6 times 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 $1.5 billion. 

Karan Adani, CEO and Whole Time Director of APSEZ said: “Current issuance is part of our capital management programme 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.”