Posted on December 29th, 2020
By Shamindra Ferdinando Courtesy The Island
Sri Lanka Muslim Congress (SLMC) leader Rauff Hakeem, MP, recently told
The Island that Sri Lanka had no option but to involve India in the development of the deep water facility, the East Container Terminal at the Colombo Port, which has been built to accommodate the largest container ships that ply around the world carrying as many as 16,000 containers (TEUs), like its competing Chinese-run Colombo International Container Terminal also in the more recently built and what is known as the Colombo South harbour.
The Samagi Jana Balavegaya (SJB) Kandy District lawmaker said so in response to the writer seeking an explanation as regards his stand on the issue at hand in the wake of his quite controversial statement on Derana ‘Wadapitiya’, anchored by Chathura Alwis.
Unprecedented response to Adani International Container Terminal Private Limited s maiden USD Bond Issuance
Posted On: 2020-12-27 20:57:16 (Time Zone: Arizona, USA)
Adani International Container Terminal Private Limited (AICTPL) settled its first USD 300 mn public USD bond issuance on 21st December 2020. The issue witnessed large participation from marquee real money investors with interests coming from around 220 accounts leading to approx. 10 times oversubscription. The issue of ~10 Years was priced at par to yield 3.00% which is also the lowest coupon achieved by any corporate Indian issuer in the last 5 years.
The investors were attracted by its strong shareholders, Adani Ports and Special Economic Zone Limited (APSEZ) & Terminal Investment Limited (TiL), and their combined business strengths embedded in the Company, backed by the credit quality of the issuance supported by investment grade rating affirmation by all 3 international rating agencies.
Adani Ports JV to raise $300 mn
Posted On: 2020-12-14 19:23:11 (Time Zone: Arizona, USA)
Adani International Container Terminal Private Limited ( AICTPL ), a 50:50 joint venture of Adani Ports and Special Economic Zone Limited and Terminal Investment Limited Holding S.A., priced an offering of US$ 300 million 3.00% Senior Secured Notes due 2031 (the Notes , and such offer of the Notes, the Offering ). The Notes will be issued to institutional investors permitted to invest in the Notes under applicable laws.
The Notes are expected to be rated Baa3 by Moody s Investors Service Inc., BBB- Standard & Poor s Ratings Services and BBB- by Fitch Ratings Inc.
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Fitch Rates Adani International Container Terminal’s Proposed Notes First-Time ‘BBB-(EXP)’
Fitch Ratings has assigned Adani International Container Terminal Private Limited’s (AICTPL) proposed US-dollar senior secured partially amortising notes due 2031 an expected rating of ‘BBB-(EXP)’. The Outlook is Negative.
The final rating is contingent upon the receipt by Fitch of final documents conforming to information already received as well as the final pricing and financial close on the proposed notes.
RATING RATIONALE
AICTPL benefits from its strategic position within the primary port of call in north-west India, revenue stability from long-term cargo and high operational efficiency. We regard the volatility of AICTPL’s revenue as low due to its affiliation with Mediterranean Shipping Company S.A. (MSC) through its 50% parent, Terminal Investment Limited (TIL); TIL, which is majority owned by MSC, is the world’s sixth largest container terminal operator. MSC is able