Monday, Feb 26, 2024 | Last Update : 04:04 PM IST

  Business   Companies  27 Jun 2019  Adani Ports plans to raise USD 750 million

Adani Ports plans to raise USD 750 million

PTI
Published : Jun 27, 2019, 11:47 am IST
Updated : Jun 27, 2019, 11:47 am IST

The company said it intends to use the proceeds primarily for capital expenditure, including on-lending to subsidiaries for purposes.

Shares of APSEZ were trading 0.92 per cent lower at Rs 411.20 apiece on BSE.
 Shares of APSEZ were trading 0.92 per cent lower at Rs 411.20 apiece on BSE.

New Delhi: Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday announced plans to raise USD 750 million (approx Rs 5,195 crore) to fund its capital expenditure requirement and also to 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 USD 750 million and has approved the pricing, tenure and other terms of the notes," APSEZ said in a regulatory filing.

The company said it intends to use the proceeds primarily for capital expenditure, including on-lending to subsidiaries for purposes, and the remainder for repaying existing indebtedness as permitted under the applicable laws including the 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.

Shares of APSEZ were trading 0.92 per cent lower at Rs 411.20 apiece on BSE.

Tags: adani, adani ports and special economic zone limited, apsez, bse
Location: India, Delhi, New Delhi