Adani Ports Concludes $450 Million Senior Notes Tender Offers

1 min read     Updated on 14 Aug 2025, 05:49 AM
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Reviewed by
Naman SharmaBy ScanX News Team
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Overview

Adani Ports & SEZ has finalized its tender offers to repurchase up to $450 million in senior notes across three series. The company received additional valid tenders for the 4.00% Notes due 2027 ($700,000) and 4.375% Notes due 2029 ($950,000) after the early tender date, which will be accepted without proration. The final settlement is expected around August 18, 2025. Adani Ports had previously accepted $154,163,000 of the 4.00% Notes due 2027 and $105,215,000 of the 4.375% Notes due 2029. The company hints at potential future liability management exercises as part of its ongoing capital management strategy.

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*this image is generated using AI for illustrative purposes only.

Adani Ports & SEZ has announced the final results of its tender offers to repurchase senior notes across three series, totaling up to $450 million. The tender offers, which expired on August 13, 2025, were part of the company's ongoing capital management strategy.

Tender Offer Details

The company sought to purchase:

  • Up to $125 million of 4.20% Senior Notes due 2027
  • Up to $200 million of 4.00% Senior Notes due 2027
  • Up to $125 million of 4.375% Senior Notes due 2029

Late Tender Results

After the early tender date, Adani Ports received additional valid tenders for two of the note series:

Note Series Amount Tendered
4.00% Notes due 2027 $700,000
4.375% Notes due 2029 $950,000

These late tenders will be accepted without proration, as they fall within the maximum acceptance amounts for each series.

Early Tender Outcome

For the 4.20% Notes due 2027, the aggregate principal amount tendered before the early deadline had already exceeded the maximum acceptance amount. Consequently, no additional notes from this series were accepted after the early tender date.

Settlement Details

The final settlement date for the accepted notes is expected to be around August 18, 2025. On this date, Adani Ports will pay the tender offer consideration to the holders of the accepted notes, along with accrued and unpaid interest up to, but excluding, the final settlement date.

Previous Acceptances

Prior to the late tender results, the company had already accepted:

  • $154,163,000 of the 4.00% Notes due 2027
  • $105,215,000 of the 4.375% Notes due 2029

Future Capital Management Plans

Adani Ports indicated that it might undertake further liability management exercises as part of its capital management plan. These potential exercises could result in a significant reduction of the outstanding amounts across different series of notes issued by the company, subject to market conditions.

Advisors

Cantor Fitzgerald & Co. and Jefferies Singapore Limited served as joint dealer managers for the tender offers, while Sodali and Co Ltd. acted as the information and tender agent.

The tender offers were conducted in compliance with applicable securities laws and regulations, with specific restrictions for certain jurisdictions including the United States, United Kingdom, European Economic Area, and Singapore.

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Adani Airports Unveils Rs 20,000-Crore City-Side Expansion Plan to Boost Non-Aeronautical Revenue

1 min read     Updated on 07 Aug 2025, 03:15 PM
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Reviewed by
Jubin VergheseBy ScanX News Team
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Overview

Adani Airports announces a Rs 20,000 crore investment plan for city-side infrastructure development across its airport portfolio. The company aims to increase non-aeronautical revenue to 70% of total revenue by 2030, up from the industry average of 50%. 70% of the investment will focus on Mumbai and Navi Mumbai airports. A 240-acre mixed-use development at Navi Mumbai International Airport is planned, with the first phase set for completion by 2031. The company reported strong financial performance with quarterly revenue of Rs 2,715.00 crore, a 25% year-on-year growth. To support expansion and refinance debt, Adani Airports raised $750.00 million in June through external commercial borrowings.

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*this image is generated using AI for illustrative purposes only.

Adani Ports & SEZ 's airport division, Adani Airports, has announced an ambitious plan to invest Rs 20,000 crore in city-side infrastructure development across its airport portfolio, aiming to significantly boost its non-aeronautical revenue. The strategic move comes as the company reported strong financial performance, with revenue reaching Rs 2,715.00 crore in the latest quarterly results, marking a 25% year-on-year growth.

Investment Focus

The lion's share of the investment, approximately 70%, will be allocated to Mumbai and Navi Mumbai airports. This concentrated approach underscores the company's commitment to developing these key metropolitan hubs.

Non-Aeronautical Revenue Target

Adani Airports has set an aggressive target to increase its non-aeronautical revenue to 70% of total revenue by 2030. This ambitious goal represents a significant leap from the current industry average of 50%, highlighting the company's focus on diversifying its revenue streams.

Navi Mumbai International Airport Development

A cornerstone of the expansion plan is a 240-acre mixed-use development at Navi Mumbai International Airport. The first phase, covering 50 acres, is scheduled for completion by 2031 and will include:

  • Hotels with 1,000 rooms
  • Shopping malls
  • Office towers
  • Service apartments

This development is expected to be a major driver of non-aeronautical revenue growth.

Financial Performance and Funding

Adani Airports' recent financial results demonstrate strong growth, with quarterly revenue reaching Rs 2,715.00 crore, a 25% increase year-on-year. To support its expansion plans and refinance existing debt, the company successfully raised $750.00 million in June through external commercial borrowings. These funds will also be utilized to expand retail, food & beverage, and duty-free operations across its airport portfolio.

Conclusion

Adani Airports' substantial investment in city-side infrastructure and its focus on non-aeronautical revenue streams signal a strategic shift in its business model. By leveraging its prime airport locations for mixed-use developments, the company aims to create additional value and diversify its income sources. The success of this ambitious plan could potentially reshape the airport infrastructure landscape in India and set new benchmarks for the industry.

Historical Stock Returns for Adani Ports & SEZ

1 Day5 Days1 Month6 Months1 Year5 Years
-0.82%-1.92%-7.91%+24.17%-9.74%+279.09%
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