Moneycontrol PRO
you are here: HomeNewsBusiness

Adani Airports Holdings raises $250 million from Standard Chartered Bank consortium

The firm said: "This issuance by Adani Airports Holdings marks the first milestone in its capital management plan. Earlier this week, Mumbai International Airport Ltd (MIAL) placed $750 million private placement to Apollo, and $1.74 billion financial closure for Navi Mumbai International Airport Ltd (NMIAL) from the domestic banking system."

May 09, 2022 / 11:56 AM IST
The new terminal will provide a greater experience to the passengers on arrival. Huge space between baggage belts for ease of movement, greenery inside the terminal, modern food court, state-of-the-art Meet and Greet gallery, ample parking space and many more. (Source: GMR)

The new terminal will provide a greater experience to the passengers on arrival. Huge space between baggage belts for ease of movement, greenery inside the terminal, modern food court, state-of-the-art Meet and Greet gallery, ample parking space and many more. (Source: GMR)

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises, on May 9 said it has raised $250 million through a senior secured three-year external commercial borrowing facility from a consortium of Standard Chartered Bank and Barclays Bank. The facility has an option to raise additional $200 million.

The firm said: "This issuance by AAHL marks the first milestone in its capital management plan. Earlier this week, Mumbai International Airport  Ltd (MIAL) placed $750 million private placement to Apollo, and $1.74 billion financial closure for Navi Mumbai International Airport Ltd (NMIAL) from the domestic banking system.

With this, AAHL has tapped three different pools of capital totalling $2.74 billion. AAHL is now geared for the next phase of its capital management plan which includes tapping the public capital markets and further construction of facilities."

AAHL is an integrated network consisting of eight airports located around city centres controlling 50 percent of top 10 domestic routes, 23 percent of the total Indian air traffic, and 30 percent of India’s air cargo. AAHL airports handle around 200 million consumers, including passengers and non-passengers.

"The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airports business into one of the largest airport platforms globally. We are grateful to our stakeholders and consumers for their continued support and their confidence in us," the spokesperson said.

Close
The company also said that the financing structure enables a scalable capital solution with flexibility to tap global capital markets in line with AAHL's vision of providing a transformational airport infrastructure platform.
Moneycontrol News
first published: May 9, 2022 10:09 am
Sections
ISO 27001 - BSI Assurance Mark