Adani Ports and Special Economic Zone (APSEZ) has commenced a tender offer to purchase for cash any and all of its outstanding $650 million 3.50% Senior Notes due 2020. The Tender Offer is being made pursuant to a Tender Offer Memorandum, dated July 16, 2019. The Tender Offer will expire on July 24, 2019, unless extended or earlier terminated as described in the Tender Offer Memorandum.
The company has offered the Tender Offer as part of a refinancing transaction pursuant to which the Consideration will be derived from a concurrent offering of new debt securities, on terms and conditions satisfactory to the Company, together with cash on hand.
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.