Offshore bond

Adani Ports extends India’s US dollar bond spree

India’s biggest port operator raises $750 million with the country’s largest private-sector dollar bond issue this year.

India is a step closer to breaking the record for most offshore bonds issued in a year after Adani Ports and Special Economic Zone sold $750 million-worth of US dollar bonds this week.

India’s largest port operator has been one of the country’s most frequent US dollar bond issuers in recent years, having previously tapped the market three times since 2015. This time around it was able to launch its biggest deal on the back of government support for non-bank institutions to borrow overseas. 

In January, the Reserve Bank of India issued new regulations that allow all entities eligible to receive foreign direct investment under...

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