Adani Ports raises 10-year bullet USD 500 mn

Adani Ports and Special Economic Zone Limited ('APSEZ'), the ports & logistics company of the diversied Adani Group, successfully priced a USD 500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10 % on January 26, 2020.

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.

This was the second issuance for APSEZ and third for the port vertical company of Adani Group in the current financial year with total issuance amounting to over USD 1.50 billion.

Mr. Karan Adani, CEO and Whole Time Director of APSEZ said, "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."

Shares of ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. was last trading in BSE at Rs.520.55 as compared to the previous close of Rs. 518.65. The total number of shares traded during the day was 482336 in over 4390 trades.

The stock hit an intraday high of Rs. 527.6 and intraday low of 508.55. The net turnover during the day was Rs. 249487930.

Source : Equity Bulls

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