LIC Invests Rs 5000 Crore In Adani Ports NCDs; Proceeds To Be Used Towards Debt Obligation

Adani Ports and Special Economic Zone Ltd., announced on Friday that the company has successfully raised Rs 5,000 crore through a 15-year non-convertible debenture. Backed by APSEZ's strong financials and a ‘AAA/Stable' domestic credit rating, the issue locked in a competitive coupon rate of 7.75% p.a. and was fully subscribed by LIC. The debentures will be listed on the BSE.

The proceeds will fund a proposed buyback of APSEZ’s US Dollar bonds, pending board approval on May 31. A full subscription would extend the average debt maturity significantly longer—from 4.8 years to 6.2 years.

#lic #adani #stockmarket

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Видео LIC Invests Rs 5000 Crore In Adani Ports NCDs; Proceeds To Be Used Towards Debt Obligation канала NDTV Profit