Adani Ports changes lane to secure $750m

By Morgan Davis
29 Jul 2020

India’s Adani Ports and Special Economic Zone proved its willingness to be flexible this week, changing its planned tenor and offering a decent concession to secure demand for a $750m bond.

The Baa3/BBB-/BBB- rated borrower had mandated banks and kicked off investor calls for a dollar deal on July 13. The company stated in its mandate that it would seek up to $1.25bn for a 10 year bond, or perhaps even longer.

But things did not go as ...

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