Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Adani Ports and Special Economic Zone Ltd (APSEZ) has announced the early results of its cash tender offer to repurchase up to USD 495.1 million of its outstanding offshore bonds. By the early participation deadline, bondholders had tendered USD 196.94 million worth of notes. This included USD 101.58 million of 4.0% senior notes due 2027 and USD 95.36 million of 3.1% senior notes due 2031. The company will proceed with early settlement shortly, while the offer will remain open until 13 March 2026.
Adani Ports and Special Economic Zone Ltd has completed the early tender phase of its previously announced cash offer to buy back up to USD 495.1 million of its outstanding US dollar-denominated senior notes. Advertisement
Under the offer, the company sought to repurchase portions of its 4.0% senior notes due 2027 and its 3.1% senior notes due 2031. The maximum acceptance amount was set at USD 345.14 million for the 2027 notes and USD 150 million for the 2031 notes.
As of the early tender deadline, bondholders had validly tendered USD 196.94 million in aggregate principal amount. This comprised USD 101.58 million of the 2027 notes and USD 95.36 million of the 2031 notes. The total early participation was significantly below the maximum buyback size, indicating that a majority of investors chose not to tender their holdings at this stage.
The company has stated that it will accept the validly tendered notes subject to the terms and conditions outlined in the offer documents. Settlement for bonds tendered before the early deadline is expected to take place shortly, along with payment of accrued and unpaid interest up to the settlement date.
The tender offer will remain open until 13 March 2026, unless extended or modified. Holders who choose to tender after the early deadline but before the final expiry will receive the applicable consideration as per the structure of the offer.
This buyback forms part of APSEZ's broader liability management strategy. In recent years, the company has focused on reducing refinancing risks and smoothing out its debt maturity profile. By repurchasing a portion of its offshore bonds ahead of maturity, the company aims to manage interest costs and strengthen its balance sheet position.
Adani Ports, India's largest private port operator, has continued to access global debt markets to fund capacity expansion, logistics integration and acquisitions. The current buyback exercise reflects an effort to proactively manage its outstanding foreign currency liabilities while maintaining financial discipline.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
