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Adani Ports' joint venture firm raises $300 million to retire debt

Adani Ports and Special Economic Zone said its joint venture firm Adani International Container Terminal Pvt Ltd will raise $300 million (over Rs 2,200 crore) to retire some of its debt

Topics
Adani Port and SEZ

Press Trust of India  |  New Delhi 

PORTS, exports, imports, trade, shipping, ships, economy
File photo of a port in India

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said its joint venture firm Adani International Container Terminal Pvt Ltd will raise USD 300 million (over Rs 2,200 crore) to retire some of its debt.

"Adani International Container Terminal Pvt Ltd (AICTPL), a 50:50 joint venture (JV) of Adani Ports and Special Economic Zone Ltd and Terminal Investment Limited Holding S.A., priced an offering of USD 300 million 3.00 per cent senior secured notes due 2031.

"The notes will be issued to institutional investors permitted to invest in the notes under applicable laws," the company said in a regulatory filing.

APSEZ said AICTPL intends to use the proceeds from the offering, upon receipt of requisite approvals, to repay all of its existing senior indebtedness and to repay a portion of the subordinated shareholder loans availed by it, in accordance with applicable laws and regulations and as permitted by the Reserve Bank of India, including under the directions issued by it in respect of external commercial borrowings.

Shares of Adani Ports and Special Economic Zone Ltd were trading 0.65 per cent lower at Rs 463.95 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, December 15 2020. 10:57 IST
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