| Date: |
04-06-2015 |
| Subject: |
Adani Ports and SEZ is in talks to mop up around $2.5 billion via dollar bonds |
Gautami Adani backed Adani Ports & SEZ is in talks to mop up around $2.5 bilion via dollar bonds. Sources tell ET Now that company is looking to launch these bonds before June end and the issue could come as a 5-7 year bond. The company is currently working out the pricing of the bond but sources indicate it will be market linked.
Adani Ports carries a total debt of Rs 11,600 cr on its books which includes forex debt of Rs 7200 cr. According to sources, the company is looking to use the funds raised from the bond issue to repay the entire rupee debt.
Analysts say replacing rupee debt with dollar loans will help the company bring down the interest costs. Adani Ports is currently paying an interest of 11%. SBI is one of the largest lenders to Adani Ports.
Source : economictimes.indiatimes.com
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