Adani Ports and Special Economic Zone Ltd.

Adani Ports and Special Economic Zone (APSEZ) has received approval from its finance committee for issuance of fixed rate senior unsecured Notes aggregating to $750 million. The committee has also approved the pricing, tenure and other terms of the Notes.

The company intends to use the proceeds primarily for capital expenditure, including on-lending to subsidiaries for capital expenditure purposes, and the remainder for repaying existing indebtedness. The company has received rating ‘Baa3 (Stable)’ by Moody's, ‘BBB- (Stable)’ by S&P and ‘BBB- (stable)’ by Fitch for the Notes.

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.