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Adani Ports has raised $650 million through dollar bond issue

On Thursday Adani Ports and Special Economic Zone Ltd (APSEZ) raised USD 650 million (around Rs 4,100 crore) through its debut dollar issue.

APSEZ in a BSE filing said that, “it has priced a Rule 144A/Regulation S offering of USD 650 million 3.50 senior unsecured notes due 2020.”

“The use of proceeds is to refinance foreign currency denominated external commercial borrowings and fund capital expenditure,” it added.

Gautam Adani, Adani Group Chairman said that “this important milestone provides us access to financing markets for creating new liquidity pools which will help in lowering our long term borrowing costs.”

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