Latest news with #AdaniPortsandSpecialEconomicZone
Business Standard
21 hours ago
- Business
- Business Standard
Adani Ports raises Rs 5,000 crore via NCD issuance
Adani Ports and Special Economic Zone (APSEZ) has successfully raised Rs 5,000 crore through a 15-year Non-Convertible Debenture (NCD). Backed by APSEZ's strong financials and a 'AAA/Stable' domestic credit rating, the issue locked in a competitive coupon rate of 7.75% p.a. and was fully subscribed by LIC. The debentures will be listed on the BSE. The issue shows APSEZ's deep access to long-term capital from diversified sources at attractive pricing and significantly enhances APSEZ's debt maturity profile. The transaction highlights APSEZ access to domestic markets for its longest tenure issuance till date, and one of the longest in Indian capital markets history. The Proceeds will fund a proposed buyback of APSEZ's US Dollar bonds, pending board approval on 31 May 2025. A full subscription would extend the average debt maturity significantly longerfrom 4.8 years to 6.2 years.
Mint
a day ago
- Business
- Mint
Adani Ports taps its largest ever domestic bond: ₹5,000 crore 15-year NCD from LIC — all you need to know
Adani Ports and Special Economic Zone (APSEZ) on May 30 said it has successfully raised ₹ 5,000 crore through a 15-year Non-Convertible Debenture (NCD), fully subscribed by the Life Insurance Corporation of India (LIC). 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.
NDTV
a day ago
- Business
- NDTV
Adani Ports Secures Rs 5,000 Crore Domestic Bond, Fully Subscribed By LIC
Ahmedabad (Gujarat): Adani Ports and Special Economic Zone (APSEZ) on Friday announced it has successfully raised Rs 5,000 crore through a 15-year Non-Convertible Debenture (NCD). Backed by APSEZ's strong financials and a 'AAA/Stable' domestic credit rating, the issue locked in a competitive coupon rate of 7.75 per cent per cent, and was fully subscribed by LIC, the Adani Group company said in a statement. Debentures are long-term financial instruments that companies issue to raise more money from investors. The debentures will be listed on the BSE. The Adani Group company claimed that the NCD issue shows APSEZ's deep access to long-term capital from diversified sources at attractive pricing and significantly enhances APSEZ's debt maturity profile. It added that the transaction highlights APSEZ's access to domestic markets for its longest tenure issuance to date, and one of the longest in Indian capital markets history. The proceeds will fund a proposed buyback of APSEZ's US Dollar bonds, pending board approval on May 31, 2025. A full subscription would extend the average debt maturity significantly longer, from 4.8 years to 6.2 years. "This isn't merely a financing exercise; it's a proactive execution of a meticulously developed Capital Management Plan for APSEZ, focused on maintaining conservative leverage, extending the debt maturity profile, lowering cost, and diversifying funding sources. This plan is designed to support APSEZ with its long-term vision to become the world's largest integrated transport utility," said Ashwani Gupta, Whole-time Director and CEO, APSEZ. APSEZ has set a target of handling 1 billion tonnes of cargo by 2030, more than 2x the 2024-25 number. APSEZ has seven strategically located ports and terminals on the west coast and eight on the East coast, representing 27 per cent of the country's total port volumes. This extensive network provides capabilities to handle vast amounts of cargo from both coastal areas and the hinterland. Beyond India, the company is developing a transhipment port at Colombo, Sri Lanka, and operates the Haifa Port in Israel and Container Terminal 2 at Dar Es Salaam Port, Tanzania, significantly enhancing its international presence.
Time of India
3 days ago
- Business
- Time of India
Adani Ports and SEZ to raise Rs 5,000 crore via long-term bonds
Mumbai: Adani Ports and Special Economic Zone ( APSEZ ) is set to raise ₹5,000 crore through a 15-year rated, listed, secured non-convertible debenture (NCD) issue, marking its return to the domestic bond market after over a year. The non-convertible debentures could be priced at a coupon of 7.7% to 7.75%, a bank executive said on condition of anonymity. The issue opens for bidding on May 29. There is no greenshoe option, keeping the total size capped at ₹5,000 crore. Market insiders said the bonds would be subscribed by three financial institutions, including a state-run insurer. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Médico afirma: Esse truque caseiro alivia as varizes em curto prazo Fim das Varizes Undo Proceeds from the issuance would be used for capital expenditure , refinancing existing debt, and general corporate purposes. Agencies Bonds Corner Powered By Adani Ports and SEZ to raise Rs 5,000 crore via long-term bonds Adani Ports and Special Economic Zone plans to raise ₹5,000 crore. This will be through a 15-year non-convertible debenture issue. The issue opens on May 29. The funds will be used for capital expenditure and debt refinancing. This is Adani Ports' largest bond issuance. The company's net debt-to-Ebitda ratio has improved. The bonds are rated Crisil AAA. How Laddering Fixed Income Can Help You Stay Agile in an Uncertain World: Jiraaf's Strategy for FY26 BOJ on alert to impact of super-long yield swings on borrowing costs India bonds are a buy for Citi on diverging rates policy with US US treasury yields dip on Japan's likely bond shift Browse all Bonds News with As of March 31, 2025, APSEZ's net debt stood at ₹36,422 crore. With Ebitda at ₹20,471 crore, its net debt-to-Ebitda ratio stood at 1.78x, improving from 2.3x at the end of FY24. An Adani spokesperson did not immediately respond. Live Events "This is the largest bond issuance by APSEZ in terms of size," the banker cited above said. "Adani is opting for a longer tenor as the funding requirement is long-term in nature." The board of APSEZ gave in-principle approval for the issuance on May 22. The papers are rated Crisil AAA . APSEZ, India's largest private port operator, has a cargo handling capacity of 633 million metric tonnes and handled 450 MMT in FY25. Its portfolio includes 15 domestic ports/terminals and four global assets across Israel, Tanzania, Australia, and Sri Lanka. On April 17, 2025, the company announced acquisition of Abbot Point Port Holdings (APPH), Singapore-which owns the entities that own and operate North Queensland Export Terminal (NQXT)-from Carmichael Rail and Port Singapore Holdings, Singapore.
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Business Standard
3 days ago
- Business
- Business Standard
Adani Ports & SEZ likely to raise ₹5k crore through 15-yr bonds today
Adani Ports and Special Economic Zone (APSEZ) — the country's largest port developer and operator — is set to tap the domestic capital market on Thursday via a bonds' issue. It plans to raise up to ₹5,000 crore through 15-year bonds — the biggest-ever rupee bond sale — according to sources. The issuance will not include a green shoe option, which normally permits an over-allotment of up to 15 per cent above the base issue size. Market participants said the coupon on 15-year bonds could be in the range of 7.7-8 per cent. 'The issuance is tomorrow (Thursday), and this is its first time issuing a 15-year bond,' said a market participant. How the proceeds would be used could not be immediately ascertained. An email sent to the Adani group remained unanswered till going to press. The company operates a portfolio of 15 domestic ports/terminals with international presence at four global ports/terminals. Along with its port operations, it has its wide logistics network and offers various port-based marine services to its owned ports/terminals as well as other ports. According to a recent rating note by rating agency CRISIL, APSEZ's bank loan facilities and non-convertible debentures have been rated 'AAA' while its commercial papers have been rated A1+. Additionally, recently global rating agency Fitch Ratings has affirmed APSEZ's long-term foreign-currency issuer default rating at 'BBB-' and removed it from rating watch negative. The domestic debt capital market is witnessing a flurry of corporate bond issuances ever since the Reserve Bank of India (RBI)'s Monetary Policy Committee started easing interest rates. On Thursday, Indian companies plan to raise over ₹3,000 crore via debt sale. The RBI injected trillions of rupees through multiple open market operations and dollar-rupee buy-sell swaps, among others, thereby pushing system liquidity into surplus. This, in turn, led to a rally in the yields of 10-year government securities. The RBI had reduced the repo rate by 25 basis points (bps) each in February and April and changed its stance to 'accommodative' from 'neutral' (in April). This could mean more rate cuts in the coming policy review meetings. Hopes of further rate cuts coupled with ample liquidity has led to a rally in yields on better-rated corporate bonds. Major issuers, including state-owned entities and private sector issuers are capitalising on this, and tapping the market to raise funds. April saw close to ₹1 trillion worth of bonds being issued. In FY25, Indian companies raised a record amount —around ₹11 trillion — from the domestic capital market via bonds. In FY24, corporates raised a little over ₹10 trillion from the capital market.
