Adani Ports To Consider Buyback Of Some Dollar Bonds

Adani Ports and Special Economic Zone Ltd.'s board will consider a buyback of certain dollar-denominated bonds in this financial year, subject to market conditions.

The board will meet on Saturday to mull the proposal, according to a stock exchange filing late on Wednesday.

As per their latest financial reports, the company's cash balance stood at Rs 8,001 crore as of the period ended March 31, 2025. Net debt to Ebitda ratio was at 1.9 times in FY25, compared to 2.3 times in FY24.

Dollar bonds constitute 23% of the total long-term borrowing of the company in FY25.

Global rating agency Moody's rates Adani Ports bonds as 'Baa3 / Negative', while S&P Global and Fitch Rating placed 'BBB-/Negative'.

Last week, the Adani Ports board approved the raising of up to Rs 6,000 crore through the issuance of non-convertible debentures for capital expenditure or for the refinancing of existing debt and general corporate purpose.

The type of securities proposed to be issued are secured, rated, listed, redeemable, non-convertible debentures through private placement.

The NCDs issued are proposed to be listed on BSE and or NSE, and the terms of the issue may include 'call' and 'put' options as determined from time to time. The coupon interest offered, schedule of payment and principal along with the tenure of the instrument is set to be determined from time to time at the time of issue.

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