Adani Ports receives $437m in early tender offers

Adani Ports and Special Economic Zone Limited received $437.6m in early tenders for its cash offers to buy back up to $450m of senior notes across three series.

The 4.2% notes due August 2027 were oversubscribed, with $178.3m tendered against a $125m target, resulting in a 65.5% proration factor. The company also received $154.2m for 4.0% notes and $105.2m for 4.375% notes.

Early settlement is expected around August 1, with tender offers expiring August 13.