nder its ongoing debt management plan, private ports major, Adani Ports and Special Economic Zone Limited (APSEZ) has raised $500 million (approx ₹3,653 crore) through issuance of 10-year senior unsecured instrument.
APSEZ informed that it successfully priced a $500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10 per cent on January 26, 2021 with marquee investors across all geographies.
This becomes third issuance in the fiscal 2020-21 so far for the Adani Group’s ports arm, totalling the overall issuance at over $1.50 billion (approx ₹11,000 crore).
Karan Adani, CEO and Whole-Time Director of APSEZ, commented, “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.”
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, an official statement said.
APSEZ shares closed at ₹520.30, up 0.28 per cent on NSE Thursday.