LIC subscribes to Rs 5,000 crore bond issue by Adani Ports as part of debt refinancing

LIC has fully subscribed to Adani Ports’ ₹5,000 crore NCD issue, supporting their strategy to replace short-term debt with longer-term, lower-cost options. The 15-year bond, with a 7.75% coupon rate, will fund capital expenditure and refinance existing liabilities. This move extends Adani Group’s debt maturity profile, lowering their average cost of funds to 7.92% in fiscal year 2025.