Gautam Adani's APSEZ all set to issue foreign currency denominated bonds
Shital Jibhe / 10 Jan 2017
Gujarat-based Adani Ports and Special Economic Zone (APSEZ) will be able to issue foreign currency denominated bonds. The company has informed the BSE that in accordance with the law, the powers are delegated to the finance committee by the board of directors of APSEZ.
Gujarat-based Adani Ports and Special Economic Zone (APSEZ) will be able to issue foreign currency denominated bonds. The company has informed the BSE that in accordance with the law, the powers are delegated to the finance committee by the board of directors of APSEZ.
The finance committee of the company promoted by industrialist Gautam Adani reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency denominated bonds by the company. The issuance of foreign currency denominated bonds offering may follow, subject to market conditions.
The company is rated Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB-(Negative) by Fitch and expects the same ratings for its foreign currency denominated bonds.
During the last fiscal year, the stock of APSEZ awarded a return of 17.94 per cent to the share-holders. The stock is trading with the P/E 16.92.
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