Shares of Adani Ports and Special Economic Zone Limited may remain in focus after the company announced the final outcome of its cash tender offers for two series of overseas bonds.
The tender offers were launched to repurchase a portion of the company’s outstanding senior notes, part of its broader liability management strategy.
Details of the Tender Offers
The company had offered to buy back up to $345.14 million of its 4% Senior Notes due 2027 and up to $150 million of its 3.10% Senior Notes due 2031.
The process was conducted in accordance with the Tender Offer Memorandum dated February 10, 2026. The early tender deadline ended on February 24, 2026, while the overall tender offer period closed on March 11, 2026.
Response from Noteholders
Following the early tender deadline, additional valid tenders were received from investors. The company received $500,000 worth of 4% Notes due 2027 and $2.13 million of 3.10% Notes due 2031 after the early submission window.
These amounts were in addition to the $101.58 million of 2027 notes and $95.36 million of 2031 notes that had already been tendered and accepted during the early tender period.
According to the company, all valid tenders were accepted, and no proration factor was applied during the acceptance process.
Final Settlement Date
The final settlement of the tender offers is expected to take place on March 16, 2026, subject to the conditions outlined in the tender documents.
On the settlement date, Adani Ports and Special Economic Zone Limited plans to pay the agreed tender consideration along with accrued interest to investors whose notes were accepted in the offer.
Advisors to the Transaction
For the execution of the tender offers, the company appointed joint dealer managers including Cantor Fitzgerald & Co. and Jefferies Singapore Limited.
Additionally, Sodali & Co Ltd. acted as the information and tender agent, assisting investors and facilitating the tender process.
Summary
- Adani Ports and Special Economic Zone Limited announced the final results of its cash tender offers for overseas bonds.
- The company aimed to repurchase up to $345.14 million of 4% Senior Notes due 2027 and $150 million of 3.10% Senior Notes due 2031.
- Additional tenders of $0.5 million (2027 notes) and $2.13 million (2031 notes) were received after the early tender period.
- All valid tenders were accepted, with no proration applied.
- The final settlement is expected around March 16, 2026.
- Advisors to the transaction included Cantor Fitzgerald & Co., Jefferies Singapore Limited, and Sodali & Co Ltd..
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