Adani Ports Plans To Raise $750 Million To Fund Capex, Retire Debt
The APSEZ fundraising is aimed at addressing its capital expenditure requirements and retiring some of its debt.
Adani Ports and Special Economic Zone Ltd. on Thursday announced plans to raise $750 million (about Rs 5,195 crore) to fund its capital expenditure requirements and retire some of its debt.
"The finance committee of Adani Ports and Special Economic Zone Ltd. has approved the issuance of fixed rate senior unsecured notes aggregating to $750 million and has approved the pricing, tenure and other terms of the notes," APSEZ said in a regulatory filing.
APSEZ intends to use the proceeds primarily for capital expenditure and the remainder for repaying existing debt as permitted under the applicable laws, including external commercial borrowing guidelines and/or, if required, approvals of the Reserve Bank of India. The notes are expected be listed on the Singapore Exchange Securities Trading Ltd, the company added.