For proposes foreign currency denominated bond offering
Adani Ports & Special Economic Zone announced that the Company expects to be assigned Baa3/STABLE by Moody's, BBB-/STABLE by S&P and BBB-/STABLE by Fitch for its proposed foreign currency denominated bonds.Pursuant to the approval of the Finance Committee of Board of Directors, the Company has appointed intermediaries for organizing investor meetings for its proposed foreign currency denominated bonds, The bond offering may follow, subject to market conditions. The proceeds of the bonds, if and when issued, will be utilized for the refinancing existing ECB facility and capital expenditure as provided under the extant guidelines of Reserve Bank of India.
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