APSEZ to raise Rs 52.5 billion via NCDs and preference shares

The Adani Ports and Special Economic Zone (APSEZ) will raise Rs 50 billion by issuing non-convertible debentures (NCDs) and Rs 2.5 billion through non-cumulative redeemable preference shares. The majority of the funds issued will be used for refinancing its existing debt. The company plans to spend Rs 7 trillion over the next decade on infrastructure projects. Further, the company is planning to issue as much as Rs 10 billion of bonds via private placement.