Adani Ports to raise up to $1 billion

Adani Ports reported a 13 per cent growth in container traffic in FY19. Adani Ports & Special Economic Zone (SEZ) is tapping the international debt market to raise up to $1 billion to fund its capex plans and also to retire some of its debt, according to merchant banking sources.

The proposed issue has a ‘Baa3’ rating from the global ratings agency Moody’s Investors Service.

“Adani Ports is doing a United States (US) dollar issue soon and will be raising $ 750 million to $ 1 billion,” merchant banking sources said but refused to share more details like the tenure of the debt or the likely pricing.