Sidley represented Barclays, Citigroup, DBS Bank Ltd., MUFG, and Standard Chartered Bank, the joint global coordinators and joint bookrunners, in connection with the Rule 144A/Regulation S debut offering of US$300 million 3.00% Senior Secured Notes due 2031 by Adani International Container Terminal Private Limited. The transaction utilized an amortizing project finance type structure, and the bonds are listed on the India International Exchange (IFSC) Limited (India INX) and the Singapore Exchange Securities Trading Limited (SGX-ST).
Adani International Container Terminal Private Limited is a 50-50 joint venture between Adani Ports and Special Economic Zone Limited (a part of Adani Group and India’s largest private developer and operator of ports) and Mundi Limited (a subsidiary of Terminal Investment Limited Holding S.A., a leading globally diversified container terminal operator and the sixth-largest container terminal operator in the world). Adani International Container Terminal Private Limited operates two major container terminal facilities at Mundra Port, the busiest container handling port in India.
The Sidley team is composed of partners Matthew Sheridan and Ankit Kashyap, counsel Jeremy Wang, and staff attorney Rachna Talati, all of whom are based in Singapore; and partner David E. Howe, who is based in London.