Adani Ports and Special Economic Zone Limited has announced the final results for its cash tender offers targeting its 4.00% Senior Notes due 2027 and its 3.10% Senior Notes due 2031. The company will accept notes tendered after the Early Tender Date without proration. The final settlement date for these accepted notes is expected to be on or about March 16, 2026, finalizing the liability management exercise announced earlier this year.
Final Results of Cash Tender Offers Announced
Adani Ports and Special Economic Zone Limited (the “Company”) has released the final results of its previously announced Cash Tender Offers (the “Tender Offers”) made to purchase outstanding senior notes. This announcement follows earlier intimations provided on May 28, 2025, May 31, 2025, February 10, 2026, and February 25, 2026.
The offers targeted the following principal amounts:
- Up to US$345,137,000 aggregate principal amount of the outstanding 4.0% Senior Notes due 2027.
- Up to US$150,000,000 aggregate principal amount of the outstanding 3.10% Senior Notes due 2031.
Tendering Period Summary
The deadline for the Early Tender Offer Consideration expired at 5:00 p.m., New York time, on February 24, 2026 (the “Early Tender Date”). The Tender Offers subsequently expired at 5:00 p.m., New York time, on March 11, 2026 (the “Expiration Date”).
The principal amounts validly tendered after the Early Tender Date and at or prior to the Expiration Date were:
| Security Description | Aggregate Principal Amount Tendered after the Early Tender Date and at or prior to the Expiration Date | Maximum Acceptance Amount |
|---|---|---|
| 4.0% Notes | US$500,0001 | US$345,137,000 |
| 3.10% Notes | US$2,130,0002 | US$150,000,000 |
1 Additional US$101,584,000 of 4.0% Notes were tendered and accepted as of the Early Tender Date.
2 Additional US$95,360,000 of 3.10% Notes were tendered and accepted as of the Early Tender Date.
The Company confirmed it will accept all 4.0% Notes and 3.10% Notes validly tendered after the Early Tender Date without applying any Proration Factor.
Final Settlement Details
Subject to the satisfaction or waiver of the conditions outlined in the Tender Offer Memorandum, the Final Settlement Date for the Notes accepted after the Early Tender Date is expected to occur on or about March 16, 2026. On this date, the Company expects to pay the Tender Offer Consideration plus accrued and unpaid interest up to, but excluding, the Final Settlement Date.
The Company notes that in accordance with its capital management plan, it may conduct further similar liability management exercises, which could result in a material reduction of outstanding notes across various series.
Transaction Advisors
Cantor Fitzgerald & Co. and Jefferies Singapore Limited served as the Joint Dealer Managers for these Tender Offers. Sodali and Co Ltd. was appointed as the Information and Tender Agent. Documents related to the offers, including the Tender Offer Memorandum, are available on the Transaction Website: https://projects.sodali.com/adaniports.
Source: BSE
