Adani Ports JV to raise $300 mn
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said its joint venture firm Adani International Container Terminal Pvt Ltd
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New Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said its joint venture firm Adani International Container Terminal Pvt Ltd will raise $300 million (over Rs 2,200 crore) to retire some of its debt.
"Adani International Container Terminal Pvt Ltd (AICTPL), a 50:50 joint venture (JV) of Adani Ports and Special Economic Zone Ltd and Terminal Investment Limited Holding S.A., priced an offering of $300 million 3.00 per cent senior secured notes due 2031.
APSEZ said AICTPL intends to use the proceeds from the offering, upon receipt of requisite approvals, to repay all of its existing senior indebtedness and to repay a portion of the subordinated shareholder loans availed by it, in accordance with applicable laws and regulations and as permitted by the Reserve Bank of India, including under the directions issued by it in respect of external commercial borrowings. (PTI)
