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.
Adani Ports JV to raise $300 million
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Last Updated: Dec 15, 2020, 10:57 AM IST
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APSEZ said AICTPL intends to use the proceeds from the offering, upon receipt of requisite approvals, to repay all of its existing senior indebtedness and to repay a portion of the subordinated shareholder loans availed by it.
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Shares of Adani Ports and Special Economic Zone Ltd were trading 0.65 per cent lower at Rs 463.95 apiece on BSE.
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NEW DELHI: Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said its joint venture firm Adani International Container Terminal Pvt Ltd will raise USD 300 million (over Rs 2,200 crore) to retire some of its debt. Adani International Container Terminal Pvt Ltd (AICTPL), a 50:50 joint venture (JV) of Adani Ports and Special Economic Zone Ltd and Terminal Investment Limited Holding S.A., priced an offering of USD 300 million 3.00 per cent senior secured notes due 2031.