Adani Ports successfully raises 20 years money from international markets

Successfully prices USD 750 million senior unsecured USD notes of 20 years and 10.5 years tenure

Adani Ports & Special Economic Zone successfully priced a USD 750 million senior unsecured USD notes issuance with 20 years and 10.5 years tranches at a fixed coupon of 5.0% and 3.8% respectively. The issuances were closed on 26 July 2021 and was oversubscribed by over 3 times. APSEZ has continued to receive exceedingly strong participation (for its successive bond offerings) from its high-quality real money investors across all geographies.

This issuance establishes the Adani Group as India's leading issuer with the ability to access international capital markets across all market cycles. APSEZ is the only infrastructure company in India to successfully raise 20 years money from international markets, an achievement that underscores the strength of the company's unique business model and strong fundamentals as well as APSEZ's commitment to ESG and the UN Sustainability Development Goals. Within the Adani portfolio, APSEZ is the third issuer of long tenor bonds after energy utilities Adani Green Energy ('AGEL') and Adani Transmission ('ATL').

 

Having issued the long tenor bond in developed markets, APSEZ has elongated the debt maturity to over 7 years from 6 years. APSEZ's natural hedge through its foreign currency earnings allows the company to manage its foreign currency exposure. This issuance has also reconfigured the ratio of APSEZ's debt from overseas investors from 69% to 73%.

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