By Cady Vishniac
Detroit, Dec. 21 – Adani International Container Terminal Private Ltd., the joint shipping venture of Indian Adani Ports and Special Economic Zone Ltd. and Swiss MSC Mediterranean Shipping Co. SA, sold $300 million of 3% senior secured notes due Feb. 16, 2031 (Baa3/BBB-/BBB-), according to a market notice.
Lead managers and bookrunners for the Rule 144A and Regulation S notes were Barclays, Citigroup Global Markets Inc. Ltd., DBS Bank Ltd., MUFG Securities Asia Pte. Ltd. and Standard Chartered Bank.
The notes will be listed on the Singapore Exchange beginning Dec. 22.
Proceeds will be used to refinance debt.
Adani International is based in Mundra, India.
| Issuer: | Adani International Container Terminal Private Ltd.
|
| Issue: | Senior secured notes
|
| Amount: | $300 million
|
| Maturity: | Feb. 16, 2031
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc. Ltd., DBS Bank Ltd., MUFG Securities Asia Pte. Ltd. and Standard Chartered Bank
|
| Coupon: | 3%
|
| Listing date: | Dec. 21
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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