Norton Rose Fulbright has advised The Bank of New York Mellon in its role as trustee for Adani Ports and Special Economic Zone Ltd (APSEZ)’s US$650 million 3.5% senior unsecured offering.

APSEZ is part of the Adani Group, an integrated infrastructure corporation. The issue was the Indian private ports operator’s inaugural bond offering. The bonds are listed and quoted on the official list of the Singapore Exchange Securities Trading Limited.

The five-year 144A and Regulation S bond offering was settled through the New York clearing system, the Depository Trust Company (DTC). Barclays Bank Plc, Citigroup Global Markets Inc, Emirates NBD PJSC, Merrill Lynch International and SBICap (Singapore) Ltd acted as joint bookrunners and joint lead managers on the transaction.

Vicky Münzer-Jones, Partner, Norton Rose Fulbright commented:

“This is the first international bond offering by Adani Ports and, beyond the positive message the success of this issue sends in relation to the Indian infrastructure sector, it indicates hope for the broader debt markets given the challenges stemming from the Greek crisis and uncertainty in the Chinese stock market.”

The team was led by Singapore-based Partner Vicky Münzer-Jones and Of-Counsel, Cynthia Teo, assisted by Joel Lam and Annie Birch.