Adani Ports to raise USD 500 million via foreign currency denominated bonds

Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said its board has approved raising USD 500 million (over Rs 3,400 crore) by issuing foreign currencydenominated bonds.

"The finance committee of the company has approved issuance of fixed rate senior unsecured notes aggregating to USD 500 million and has approved the pricing, tenure and other terms," APSEZ said in a BSE filing.

The USD 500 million issue will mature on January 19, 2022 and interest rate on the notes is payable at 3.95 per cent semi annually. Earlier this week, APSEZ had said it is contemplating issuing foreign currency denominated bonds.

APSEZ is the country's largest ports developer and operator.