Adani Ports raises $750mn via overseas bonds
Adani Ports And Special Economic Zone Ltd. on Wednesday launched a $750mn offshore bond sale to repay existing loans and finance capital expenditure, as per media reports.
The funds are planned to be used for capital expenditure, including on-lending to subsidiaries to meet their capital expenditure needs, and for repaying existing debt. The fixed rate unsecured notes shall be listed on the Singapore Exchange.
The US dollar-denominated bonds are priced at a mark-up of 265 basis points over the 10-year US benchmark yield," according to a LiveMint report.
Sunteck Realty to build an expansive portfolio in commercial & retail properties over next 4 years
Sunteck Realty Ltd, India Premium Real Estate Developer is gearing to create a large portfolio with an investment of Rs5,000cr in commercial and retail properties over the next 4 years.
This well planned strategic growth in the Commercial and Retail Real Estate Market will set a benchmark trend.
Having successfully established its presence across all the segments from ultra Uber luxury to aspirational luxury residential segment at Bandra Kurla Complex(BKC), Oshiwara District Centre(ODC) and Naigaon, Sunteck is now focussing on building a premium commercial and retail portfolio of 3 mn sq ft (approx.) in ODC,1.5 to 2 mn sq ft (approx.) in and around BKC, and 1 mn sq ft(approx.) in Naigaon. Thus a total of over 6 mn sq ft(approx.).
Sun Pharma enters into a license agreement with China Medical System Holdings
Sun Pharmaceutical Industries Ltd. announced that one of its wholly owned subsidiaries has entered into a licensing agreement with a subsidiary of China Medical System Holdings Ltd. (CMS) for the development and commercialization of Tildrakizumab, an innovative biologic product, for psoriasis and psoriatic arthritis in Greater China (including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan).
Under terms of the license agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential. CMS will be responsible for development, regulatory filings and commercialization of the product in China. The initial tenure of the agreement shall be 15 years from the first commercial sale of Tildrakizumab in Greater China, and may be extended for additional 3 years subject to certain conditions defined in the agreement.
L&T Hydrocarbon Engineering bags twin contracts from ONGC
L&T- Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won twin orders from Oil & Natural Gas Corporation (ONGC).
The Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contracts awarded are for Development of Heera Panna Block of Western Offshore basin which is located about 70 km of South West of Mumbai High. The project includes two (02 Nos.) wellhead platforms, -49km subsea rigid pipelines, 10 nos. of riser installation and modification work at seven existing platforms and Heera Process Complex, the company said in the press note.
Trump demands India withdraw tariffs ahead of meeting with Modi
Ahead of meeting with India PM Modi on the G20 Summit, US President Donald Trump has hit out at the Modi government and said that India's tariffs on US products is "unacceptable" and they must be withdrawn, according to the media reports.
US President Donald Trump tweeted that, I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!
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