Adani Ports and Special Economic Zone Limited on Saturday announced the successful early settlement of Notes tendered pursuant to its previously announced offer to purchase for cash up to US$195,000,000 in aggregate principal amount of its outstanding 3.375 per cent Senior Notes due 2024 from each registered holder, on the terms and subject to the conditions set forth in the tender offer memorandum dated September 27, 2023 prepared in connection with the Tender Offer.
The Company paid a total of US$191,534,834.53, comprised of (i) the Early Tender Offer Consideration in the amount of US$975 per US$1,000 principal amount, and (ii) accrued interest, of US$7.4063 per US$1,000, of US$194,965,000 in aggregate principal amount of the Notes validly tendered on or prior to 5:00 P.M., New York City time, on October 11, 2023 (the “Early Tender Date”) and accepted for purchase by the Company on October 12, 2023 (the “Tendered Notes”). The Company has arranged for the Tendered Notes to be cancelled on or around October 13, 2023. The aggregate principal amount of Notes that remains outstanding following the cancellation is US$325,035,000 (the “Outstanding Notes”).
Since the principal amount of Notes validly tendered and not validly withdrawn on or prior to the Early Tender Date exceeded the Maximum Acceptance Amount, the Company will not accept any Notes tendered after the Early Tender Date.
