Adani Ports Announces Early Settlement Of 3.375% Senior Notes Due In 2024

Adani Ports Announces Early Settlement Of 3.375% Senior Notes Due In 2024

The aggregate principal amount of Notes that remains outstanding following the cancellation is US$325,035,000 (the “Outstanding Notes”).

FPJ Web DeskUpdated: Saturday, October 14, 2023, 04:23 PM IST
article-image
Adani Ports Announces Early Settlement Of 3.375% Senior Notes Due In 2024 | Representative Image

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Since the principal amount of Notes validly tendered and not validly withdrawn on or prior to the Early Tender Date exceeded the Maximum Acceptance Amount, the Company will not accept any Notes tendered after the Early Tender Date.

RECENT STORIES

India's Pulses Import Almost Doubled In 2023-24; May Rise Further This Year

India's Pulses Import Almost Doubled In 2023-24; May Rise Further This Year

Good News For Sunak? UK Inflation Falls To Lowest Level Since Late 2021 As Food Prices Ease Further

Good News For Sunak? UK Inflation Falls To Lowest Level Since Late 2021 As Food Prices Ease Further

'...Wake Up Tomorrow With Rs 1 Cr': From Dream To Dough; Netizens React To Fininfluencer Anupam...

'...Wake Up Tomorrow With Rs 1 Cr': From Dream To Dough; Netizens React To Fininfluencer Anupam...

Elevate Your Business Growth with Bajaj Finserv Business Loan and GST Calculator

Elevate Your Business Growth with Bajaj Finserv Business Loan and GST Calculator

Yamaha Launches AEROX 155 Version S with Smart Key Technology

Yamaha Launches AEROX 155 Version S with Smart Key Technology