Adani Ports & Special Economic Zone to raise USD 500 mn in Senior Notes

The Finance Committee of Adani Ports & Special Economic Zone has approved the issuance of fixed rate senior unsecured notes aggregating to US$ 500,000,000 and has approved the pricing of 3.10 per annum, tenure of 10 years and other terms of the Notes.

The Company intends to use the proceeds from the issue of Notes, together with cash on hand of the Company, to fund the proposed Tender Offer and to redeem, for cash, any and all of its Senior Notes due 2022 and if the Tender Offer and the Redemption are not completed for any reason, the Company intends to use a substantial portion of the proceeds from the Offering to repay its existing indebtedness, after obtaining approval from the Reserve Bank of India, if required.

Separately, the Company is also proposing a tender offer to purchase and/or redeem any and all of its outstanding US$500,000,000 3.95% Senior Notes due 2022.

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