Overview

• The non-convertible debenture issue marks Adani Ports’ largest-ever rupee bond and was fully subscribed by Life Insurance Corporation of India as sole investor.
• The 15-year bonds were priced at the lowest spread over government securities in seven years and secured top-tier ratings from Crisil and Care.
• Proceeds will replace high-cost short-term debt, extend average borrowing maturity from 4.8 to 6.2 years, and support general corporate initiatives.
• Active refinancing efforts contributed to an improved net debt-to-EBITDA ratio of 1.78 times in FY25, down from 2.3 times in FY24.
• Adani Ports is targeting 1 billion tonnes of cargo by FY30 and plans to leverage the funding for global logistics and marine expansion.