Adani Ports and Special Economic Zone Limited has informed the Exchange about General Updates
ADANIPORTS · price
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Adani Ports raised Rs. 5,000 crore by issuing 5 lakh secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) of face value Rs. 1 lakh each on a private placement basis, with a 15-year tenure. The NCDs carry a 7.75% per annum coupon, were issued at par, and were fully subscribed by LIC. The company holds an AAA/Stable rating from CRISIL, ICRA, CARE, and India Ratings. Proceeds are intended to fund a buyback of the company's existing US Dollar bonds, pending board approval on May 31, 2025. The issuance extends APSEZ's average debt maturity from 4.8 years to 6.2 years and is described as its longest-ever domestic bond issuance.
The long-tenure, competitively priced raise improves the company's debt maturity profile and reduces refinancing risk. Using proceeds to buy back dollar bonds could lower forex exposure and overall borrowing costs, which is credit-positive for shareholders, though it increases total gross debt in the short term.