Adani Ports plans to raise USD 750 million

The Notes are expected to be listed on the Singapore Exchange Securities Trading Limited and the India International Exchange (IFSC), it added. Interest on the Notes is payable at 4.20 per cent per annum, payable semi-annually on February 4 and August 4 of each year, commencing from February 4, 2021, it said adding settlement date for the notes is August 4, 2020, and maturity date – August 4, 2027.

Adani Ports and Special Economic Zone (APSEZ) on Wednesday said it will raise USD 750 million (over Rs 5,610 crore) to fund its capital expenditure requirements and to retire some of its debt. "The Finance Committee of Adani Ports and Special Economic Zone Limited has approved the issuance of fixed rate senior unsecured notes aggregating to USD 750 million and has approved the pricing, tenure and other terms of the Notes," billionaire Gautam Adani-led company said in a regulatory filing to the BSE.

The filing further noted that "the company intends to use the proceeds to repay its existing indebtedness and/or the indebtedness of its subsidiaries and other permissible end uses in accordance with applicable laws including Reserve Bank of India guidelines, receipt of requisite regulatory and other approvals, and in terms of the RBI approval obtained by the company". The Notes are expected to be listed on the Singapore Exchange Securities Trading Limited and the India International Exchange (IFSC), it added.

Interest on the Notes is payable at 4.20 per cent per annum, payable semi-annually on February 4 and August 4 of each year, commencing from February 4, 2021, it said adding settlement date for the notes is August 4, 2020, and maturity date – August 4, 2027. Shares of APSEZ were trading 0.22 per cent lower at Rs 317.85 apiece on BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)