Adani Ports and Special Economic Zone (APSEZ) has received an approval for raising up to $700 million through foreign currency bonds. The Board of directors of company at its meeting held on July 12, 2019, has approved the same.
The proceeds of the bonds will be used for the refinancing of existing notes due in 2020 and other permissible end uses in accordance with applicable laws including Reserve Bank of India guidelines.
APSEZ is part of Adani Group with businesses spanning coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, power generation & transmission and gas distribution. APSEZ represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra.