Adani Ports and Special Economic Zone Limited (APSEZL) has launched cash Tender Offers to purchase up to US$345.137 million of its 4.0% Senior Notes due 2027 and up to US$150.00 million of its 3.10% Senior Notes due 2031. The offers, announced on February 10, 2026, are part of the company’s continuing capital management program to optimize its liability structure. Holders tendering early may receive an Early Tender Premium.
APSEZL Announces Cash Tender Offers for Outstanding Notes
Adani Ports and Special Economic Zone Limited (the “Company”) today, February 10, 2026, announced the commencement of cash Tender Offers to purchase its outstanding Senior Notes. These offers are part of the Company’s ongoing capital management program aimed at proactively optimizing its liability structure.
The Company is offering to purchase:
- Up to US$345,137,000 in aggregate principal amount of the outstanding 4.0% Senior Notes due 2027.
- Up to US$150,000,000 in aggregate principal amount of the outstanding 3.10% Senior Notes due 2031.
The maximum aggregate principal amount outstanding as of the announcement date for the 4.0% Notes was US$345,137,000, and for the 3.10% Notes was US$500,000,000.
Tender Offer Consideration and Deadlines
The Tender Offers are made pursuant to a Tender Offer Memorandum dated February 10, 2026. Key dates and consideration amounts are as follows:
The Early Tender Date (for eligibility for the Early Tender Premium) is set for 5:00 p.m., New York time, on February 24, 2026. The final Expiration Date for the offers is March 11, 2026, at 5:00 p.m., New York time.
The Early Tender Premium offered for Notes accepted on or before the Early Tender Date is US$2.5 per US$1,000 principal amount for both series of Notes.
The Tender Offer Consideration (for Notes tendered after the Early Tender Date but before Expiration) is:
- For 4.0% Notes: US$988.5 per US$1,000 principal amount.
- For 3.10% Notes: US$907.5 per US$1,000 principal amount.
Holders who tender early and are accepted will receive the Early Tender Offer Consideration (Tender Offer Consideration plus the Early Tender Premium) plus any Accrued Interest up to the applicable settlement date.
Operational Details and Governance
The Company intends to fund the purchase of the accepted Notes from a mix of borrowed debt and existing cash reserves. The Company reserves the right, in its sole and absolute discretion, to increase or decrease the Maximum Acceptance Amount and to extend, terminate, or withdraw the Tender Offers, subject to applicable law.
Cantor Fitzgerald & Co. and Jefferies Singapore Limited have been engaged as Dealer Managers for these transactions. Sodali and Co Ltd. has been appointed as the information and tender agent.
The announcement explicitly states this is NOT an offer to sell or solicit an offer to buy securities in any jurisdiction where unlawful, especially noting restrictions regarding the United States, India, the UK, and the European Economic Area, as detailed in the Tender Offer Memorandum.
Source: BSE
