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The first tranche of the public issue of non-convertible debentures by Adani Ports and Special Economic Zone will be launched on January 8, with ₹500 crore being raised in two bond issuances of different maturities, sources said.
One of the bond issuances will have a term of five years and a fixed coupon of 8.7 per cent. The other bond issuance will have a term of ten years and carry a fixed coupon of 8.8 per cent. The face value of each security is ₹1 lakh and the company plans to raise ₹250 crore in each of the issuance.
The bonds have a rating of AA+ from India Ratings and ICRA.
On Wednesday, the company had said that it would be raising up to ₹5,000 crore through the public issue of NCDs. Sources said that the company will soon be following the public issue with a private placement of NCDs.
The bond market has been very busy and Indian Renewable Energy Development Company also plans to raise around ₹1,500 crore next week.
This week National Bank for Agriculture and Rural Development raised around ₹4,990 crore, while Vedanta allotted NCDs worth ₹3,400 crore on private placement basis.
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