Adani Ports’ JV to raise $300 million
15th Dec 2020

Adani International Container Terminal (AICTPL), a 50:50 joint venture of Adani Ports & Special Economic Zone (APSEZ) and Terminal Investment Holding S.A., has priced an offering of $300 million 3.00% Senior Secured Notes due 2031. The Notes will be issued to institutional investors permitted to invest in the Notes under applicable laws. The Notes are expected to be rated ‘Baa3’ by Moody's Investors Service Inc., ‘BBB-’ Standard & Poor's Ratings Services and ‘BBB-’ by Fitch Ratings Inc.

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.

Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani Group, is the largest integrated logistics player in India.