Adani Ports raises 10-year Bullet US $500 mn unsecured notes

This was the second issuance for APSEZ and third for the port vertical company of Adani Group in the current fiscal.

Adani Ports and Special Economic Zone Limited (APSEZ), the ports & logistics company of the diversified Adani Group, successfully priced a US $500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10% on January 26, 2021. 

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 US $1.50 billion.

Karan Adani, CEO and Whole Time Director, 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.”