Adani Ports plans to raise up to US$1bn from bonds

Credit: REUTERS/MOHAMED ABD EL GHANY

Adani Ports and Special Economic Zone will seek board approval on May 27 to raise up to US$1bn from foreign currency bonds in one or more tranches via a private placement, according to a filing on exchanges.

SINGAPORE, May 23 (IFR) - Adani Ports and Special Economic Zone will seek board approval on May 27 to raise up to US$1bn from foreign currency bonds in one or more tranches via a private placement, according to a filing on exchanges.

The notes will be listed on one or more stock exchanges in India or overseas.

It is also planning to raise Rs15bn (US$216m) from non-convertible debentures through a private placement.

The funds will be used to refinance existing borrowing and for general corporate purposes.

(Reporting by Krishna Merchant; Editing by David Holland)

((Krishna.Merchant@thomsonreuters.com; +65 64174544;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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