Adani Group meets investors in South East Asia, Europe, US to issue foreign currency bonds

AHMEDABAD | MUMBAI | RAJKOT – Officials of Adani Ports & Special Economic Zone (SEZ) Ltd, Adani Group company engaged in port, logistics, marine-maritime infrastructure business activities, will undergo series of meetings with institutional investors, analysts, outside India at Singapore, Hong Kong, London, Boston, Los Angeles, New York to attract foreign currency denominated bonds for undisclosed value from November 14 till November 16, 2016, the company said in regulatory filing to exchanges.

The company has been assigned Baa3 Rating by Moody’s Investors Services, of which the outlook on the rating is negative, BBB- (Exp) rating by Fitch Ratings, of which the outlook on rating is assigned as Stable and BBB- rating by S&P Global ratings, of which the the outlook of rating is assigned negative, the filing said.

In a 33 page investor presentation the company has covered important parameters of overall business overview & business updates, APSEZ as a compelling investment opportunity and group financial highlights, to woo the international investors to invest in foreign currency bonds.

The company officials will be meeting institutional investors, analysts outside India at Singapore-Los Angeles on November 14, Hong Kong-Boston on November 15 and London-New York on November 16, accompanied by financial batteries within the group and international banks.

The company official meeting is organized by Barclays Bank PLC, Citigroup Global Markets Ltd, Merrill Lynch International, Standard Chartered Bank, Credit Suisse (Hong Kong) Limited, Emirates NBD PJSC and SBICAP (Singapore) Ltd, the filing said.

However, the company has mentioned that the pricing, tenure and other terms of the bonds to be issued pursuant to the Issue will be determined by the Finance Committee of the Company and such details shall be intimated in due course, which shall not take place before November 16, 2016. Inadvertently, the Company have mentioned November 16, 2016 instead of November 17, 2016, the company said in additional regulatory filing to exchanges on Monday.

At 11:57 hrs IST the company’s shares were trading on negative counters on both Indian bourses, Bombay Stock Exchange and National Stock Exchange.

IST, or the Indian Standard Time is equal to five hours thirty minutes ahead of GMT.

1 US Dollar = 67.66 Indian Rupees


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