Adani Ports JV to raise $300 million

PTI New Delhi | Updated on December 15, 2020

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said its joint venture firm Adani International Container Terminal Pvt Ltd will raise $300 million (over ₹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 SA, priced an offering of $300-million 3 per cent senior secured notes due 2031...The notes will be issued to institutional investors permitted to invest in the notes under applicable laws,” the company said in a regulatory filing.

ALSO READ: APSEZ ranks in Dow Jones Sustainability Emerging Markets Index, 2020

APSEZ said AICTPL intends to use the proceeds from the offering, upon receipt of requisite approvals, to repay all of its existing senior debt as well as a portion of the subordinated shareholder loans availed by it, in accordance with applicable laws and regulations and as permitted by the Reserve Bank of India, including under the directions issued by it in respect of external commercial borrowings.

ALSO READ: Adani Ports, too, posts 84% sequential increase

Published on December 15, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like