Adani Ports to raise USD 500 mn from bond sale

Mumbai

This is the third large bond sale by domestic issuers after Exim Bank’s $1 billion issue at record low prices in the first week of the moth followed by SBI in the second week with a $6 billion sale.

Adani Ports is the largest port developer and operator in the country in terms of volume, with coal and other dry bulk terminals showing an annual capacity of 478.6 mn tonnes.

“We are in the dollar debt market and are planning to raise $500 million through a Reg S issue,” a merchant banking source said without sharing other details like pricing and tenor.