India’s Adani Ports board approves dollar-denominated bond issue

By Tali Rackner

Norfolk, Va., Jan. 10 – Adani Ports and Special Economic Zone Ltd. informed the Bombay Stock Exchange that its board of directors approved an issue of dollar-denominated foreign-currency bonds.

The company’s finance committee will meet on Thursday to determine the pricing, tenor and other terms of the bonds, according to a notice.

Expected ratings are Baa3 (negative) from Moody’s Investors Service, BBB- (stable) from S&P and BBB- (negative) from Fitch ratings.

The issuer is based in Ahmedabad, India, and operates ports and terminals around India.

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