Latest news with #AdaniPorts&SpecialEconomicZoneLtd
Time of India
22-05-2025
- Business
- Time of India
Adani Ports gets about $150 million loan from DBS for capex
Adani Ports & Special Economic Zone Ltd. raised about $150 million through a bilateral loan agreement with DBS Group Holdings Ltd., according to people familiar with the matter, as the Indian conglomerate continues to restore lender confidence. The proceeds of the four-year dollar loan will be used for capital expenditure , the people said, asking not be identified because the information is private. The facility has been priced at about 200 basis points above the benchmark Secured Overnight Financing Rate, they said. The all-in-price, including the hedging cost, is about 5.5%, one of the person said. DBS declined to comment. An Adani Group representative did not offer any immediate comments on the transaction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Has Honda Done It Again? The New Honda CR-V is Finally Here. TheFactualist Undo Billionaire Gautam Adani-owned conglomerate, with interests stretching from ports to green energy, is steadily regaining creditor confidence following a US Department of Justice indicted Adani over an alleged bribery plot in November. The bilateral loan is the group's first from a global bank since the indictment, one of the person said. Last month, the group raised about $750 million through an offshore private placement bond to fund an acquisition of a construction firm. BlackRock Inc. subscribed to about a third of the issuance. Separately, the conglomerate is in talks with foreign banks including Barclays Plc, First Abu Dhabi Bank PJSC and Standard Chartered Bank Plc for a $750 million loan for its airport unit. Live Events Representatives for Adani and his companies recently met US administration officials to discuss potentially dismissing criminal charges levied against him in the bribery probe, Bloomberg reported earlier this month.
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Business Standard
02-05-2025
- Business
- Business Standard
Adani's Vizhinjam port to expand capacity with launch of second phase
India Prime Minister Narendra Modi is set to kick off the second phase of Adani Group's mega port in Kerala on Friday, showcasing the solid political support for billionaire Gautam Adani amid an ongoing bribery probe in the US. The Vizhinjam transshipment terminal, which began operations in July and has handled about 250 container ships so far, is forecast to attract about Rs 9,500 crore ($1.1 billion) in additional investment that would triple the port's capacity, according to people familiar with the internal plans who didn't want to be identified. Modi's endorsement not only bolsters the port-to-power Adani conglomerate, it also shows that the overhang around the US indictment could be easing for Asia's second-richest person as his group returns to aggressive growth plans in the domestic market. The Vizhinjam port that will 'be dedicated to the nation' by Modi on May 2, is just 10 nautical miles from global shipping routes and will have an annual capacity of up to 5 million TEUs, Adani Ports & Special Economic Zone Ltd. said in a full-page local newspaper advertisement on Thursday. The investment across all phases will be around 180 billion rupees, the advertisement added. Also Read Strategically positioned also near key international shipping channels with natural depths of up to 20 meters, Vizhinjam will be able to host the largest container ships, which in the past skipped India and instead docked at ports in Colombo, Dubai and Singapore. 'Given the country's growing trade volumes with the global market, the port will play a critical role in reducing supply chain risks for Indian exports and imports,' said Afaq Hussain, director at New Delhi-based consultancy Bureau of Research on Industry and Economic Fundamentals. For Modi, Adani's deepwater transshipment terminal has geopolitical significance because it puts India on the global maritime map, which is currently dominated by China. About 75 per cent of India's transshipped cargo has been being handled by ports overseas. Indian ports have been losing an estimated $220 million in potential revenue annually due to this and businesses are bearing additional costs of $80 to $100 per container, the people said. Major routes Vizhinjam is expected to facilitate the movement of transshipment traffic into India as well as on the major routes between the US, Europe, Africa and East Asia. Geneva-headquartered Mediterranean Shipping Co. in March included Vizhinjam for its Jade shipping service route from Europe to Asia, connecting ports in China, South Korea, Singapore, Spain and Italy, according to an Adani Group spokesperson. 'If full-fledged operations begin as planned by 2028–29, the facility could significantly boost cargo movement across Adani's wider network of ports and terminals along the east and west coasts' of India, Hussain said.
Bloomberg
17-04-2025
- Business
- Bloomberg
Billionaire Adani to Sell Australia Terminal to His Port Company
Billionaire Gautam Adani will transfer ownership of an Australian port terminal to his listed company in a deal worth about $2.4 billion, according to people with knowledge of the matter, as India's largest port operator seeks to expand its global footprint. Adani Ports & Special Economic Zone Ltd. will issue preferential shares to an entity controlled by the Adani family in order to acquire the North Queensland Export Terminal Pty Ltd., the people said, asking not to be identified ahead of a formal announcement. APSEZ had purchased the terminal in 2011 before selling it to the family in 2013 in a deal worth about $2 billion, allowing the firm to focus on its Indian operations.
