Adani Ports and Special Economic Zone Ltd. (APSEZ), which is tipped to be given a stake in the East Container Terminal (ECT) of the Colombo Port by the Sri Lankan Government, on Tuesday (26) announced a $500 million bond sale. The proceeds of the bond sale would be used to finance early redemption of dollar bonds of a similar amount maturing next year. Barclays, Bank of America, and Citibank are advising the company on the bond sale. We forecast average leverage of 3.2x during the five-year forecast period for APSEZ under our rating case,” it added. In December, the group’s container terminal business raised $ 300 million through an overseas bond issuance.

Source: The Nation January 27, 2021 22:52 UTC