India’s Adani Ports starts any-and-all tender offer for 3.95% notes

Chicago, Jan. 26 – Adani Ports and Special Economic Zone Ltd. started an any-and-all cash tender offer on Tuesday for its $500 million 3.95% senior notes due 2022 (Cusips: Y00130HS9, 00652MAC6), according to a notice.

The company is offering $1,032.30 per $1,000 note, plus interest.

The tender offer will be funded from a concurrent offering of new notes.

Noteholders who tender their notes or have given an indication to tender their notes will be given preference in the allocation of the new notes.

The offer is conditioned upon the receipt of at least $500 million of new notes on terms and conditions satisfactory to the company.

The company may choose to optionally redeem any notes not tendered in the offer after the settlement of the new notes at par plus the make-whole premium.

The offer will expire at 5 p.m. ET on Feb. 2.

Barclays (+852 2903 3266, njasyndicate@barclays.com), Citigroup Global Markets Ltd. (+852 2501 2552, +44 20 7986 8969, 212 723-6106, liabilitymanagement.asia@citi.com), J.P. Morgan Securities plc (+44 20 3493 0682, liability_management_asia@jpmorgan.com) and Standard Chartered Bank (+44 20 7885 8888, liability_management@sc.com) are the dealer managers.

Morrow Sodali Ltd. is the information and tender agent (203 609-4910, +44 20 8089 3287, +852 2319 4130, adaniports@investor.morrowsodali.com).

Adani is based in Mundra, India.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.