Adani Ports raises ₹5,000 cr in its largest ever domestic bond issue

APSEZ raised the fund through a 15-year Non-Convertible Debenture (NCD) from LIC

- OUR CORRESPONDENT

NEW DELHI: Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest integrated transport utility, on Friday said it has raised Rs 5,000 crore in its largest ever domestic bond issue.

APSEZ raised the fund through a 15-year Non-Convertible Debenture (NCD) from Life Insurance Corporation of India (LIC), the firm said in a statement.

NCDs were raised at a competitive 7.75 per cent per annum coupon rate.

"Backed by APSEZ's strong financials and a 'AAA/Stable' domestic credit rating, the issue locked in a competitive coupon rate of 7.75 per cent p.a. and was fully subscribed by LIC. The debentures will be listed on the BSE," it said.

The issue shows APSEZ's deep access to long-term capital from diversified sources at attractive pricing and significantly enhances APSEZ's debt maturity profile.