Adani Ports SEZ has announced the expiration and results of its previously announced tender offer to purchase for cash (the “Tender Offer”) any and all of its outstanding $500M 3.95% Senior Notes due 2022.
According to the regulatory filing, the Company has accepted for payment all of the Notes validly tendered prior to the Expiration Time. Such tendering Noteholders will receive the purchase price in the amount of US$1,032.3 per US$1,000 principal amount of the Notes tendered and accepted for purchase, plus accrued and unpaid interest to, but not including, the settlement date, which is 3 February 2021 (interest on any Notes tendered pursuant to the guaranteed delivery procedures will cease to accrue on 3 February 2021 and will be settled on 5 February 2021).
Further, Adani Ports SEZ will arrange for cancellation of all Notes validly tendered and accepted for purchase following purchase by the Company, and any Notes not validly tendered will remain outstanding and accrue interest in accordance with their terms. Following the cancellation of validly tendered Notes, $176,739,000 of the Notes will remain outstanding.
Adani Ports SEZ closed at Rs560.10 per piece up 1.63% on Sensex.