Adani Ports and SEZ raises $750 million from overseas markets

Mumbai: and Special Economic Zone (APSEZ) Tuesday said it has priced a $750 million senior unsecured dollar notes issuance with 20 years and 10.5 years tranches at a fixed coupon of 5.0% and 3.8%, respectively.

The issuances closed on July 26th and was oversubscribed by over 3 times, India’s biggest port operator said.

“APSEZ is the only infrastructure company in India to successfully raise 20 years money from international markets,” it said in a statement.

Within the Adani portfolio, APSEZ is the third issuer of long tenor bonds after energy utilities Adani Green Energy and Adani Transmission.

“Having issued the long tenor bond in developed markets, APSEZ has elongated the debt maturity to over 7 years from 6 years,” it added.

This issuance has also reconfigured the ratio of APSEZ’s debt from overseas investors from 69% to 73%.

The transaction was managed by Axis Bank, Barclays, Citigroup, DBS Bank, Emirates NBD, JP Morgan, Merrill Lynch, Mizuho Securities, MUFG Securities, SMBC Nikko, and Standard Chartered Bank.