Adani Ports taps its largest ever domestic bond: ₹5,000 crore 15-year NCD from LIC — all you need to know
The debentures will be listed on the BSE, and is locked at 7.75 per cent coupon rate, backed by Adani Ports' 'AAA/Stable' domestic credit rating, the company informed the exchanges.
Ashwani Gupta, Whole-time Director & CEO, Adani Ports noted that this 'isn't merely a financing exercise', but a proactively developed capital management plan for Adani Ports. "This plan is designed to support APSEZ with its long-term vision to become the world's largest integrated transport utility,' Gupta said.
Debentures are long-term financial instruments that companies issue to raise more money from investors.
'The issue shows Adani Port's deep access to long-term capital from diversified sources at attractive pricing and significantly enhances APSEZ's debt maturity profile. It highlights APSEZ access to domestic markets for its longest tenure issuance till date, and one of the longest in Indian capital markets history,' the company release said.
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