Adani Ports successfully pre pays $130 million debt to ease debt loan

Adani Ports and Special Economic Zone Limited on Thursday announced the successful early settlement of Notes tendered pursuant to its previously announced offer to purchase for cash up to $130,000,000 in aggregate principal amount of its outstanding 3.375% Senior Notes due 2024 from each registered holder, through an exchange filing. The payment was done subject to the conditions set forth in the tender offer memorandum dated April 24, 2023 prepared in connection with the Tender Offer.

The Company paid a total of $127,391,875.13, comprised of the Early Tender Offer Consideration in the amount of $970 per $1,000 principal amount, and accrued interest, of $9.9375 per $1,000, of the Notes validly tendered on or prior to 5:00 P.M., New York City time, on May 8, 2023 and accepted for purchase by the Company on May 9, 2023. The Company has arranged for the Tendered Notes to be cancelled on or around May 10, 2023. The aggregate principal amount of Notes that remains outstanding following the cancellation is $520,000,000.

Since the principal amount of Notes validly tendered and not validly withdrawn on or prior to the Early Tender Date exceeded the Maximum Acceptance Amount, the Company will not accept any Notes tendered after the Early Tender Date.

Adani Port shares

The shares of Adani Port on Thursday at 12:10 pm IST were at Rs 709.90, up by 2.74 per cent.