Friday 23 December 2016 by Mark Bayley Company updates

Adani Abbot Point Terminal Tender Offer

Adani Abbot Point Terminal buys back a further $8.5m

On 21 December 2012, both KangaNews and IFR reported that Adani Abbot Point Terminal (AAPT) bought back a further $8.521m of its bonds due on 1 November 1 2018. According to the reports the minimum purchase price for this buyback was set at a spread of 365bp over swaps, which was a higher spread than the one set for the second tender.

After completing this buyback, there is $396.225m of bonds outstanding. On 12 December 2016, AAPT repurchased $32.323m of the $100m-plus tenders it received. On 19 August 2016, AAPT repurchased $62.9m of the original.

Get your free copy of The Benefits of Corporate Bonds eBook

Get a copy of The Benefits of Corporate Bonds eBook

Subscribe to The WIRE newsletter

Sign up to a free weekly newsletter to get the latest investment news.