Adani Ports and Special Economic Zone, one of the largest private multi-port operators, said Thursday the company has priced offering of USD 650 million 3.50% senior unsecured notes due 2020.
The offering is expected to close on July 29,2015, subject to customary closing conditions. The notes have been prices at 195 basis points over the five year US Treasury Note, at an offer price of 99.524 of their principal amount to yield 3.605%. The notes will be denominated in US dollars and will bear fixed interest of 3.50% p.a.
The issue is rated at par with India's sovereign rating, ''BBB-'', by both Standard & Poor's (S&P) and Fitch. There are five bankers to the issue - Barclays Plc, Dubai-based Emirates NBD, SBI Capital Markets, Bank of America-Merrill Lynch and Citibank NA.
Shares of the company gained Rs 5.55, or 1.71%, to trade at Rs 330.10. The total volume of shares traded was 36,147 at the BSE (10.33 a.m., Thursday).