Adani seeks to raise $1 billion via bond sale to refinance Mumbai Airport debt

Representative image (Source: Reuters)

Billionaire Gautam Adani is mulling to raise around $1 billion via a bond sale in January next year to refinance debt of Mumbai’s international airport, Bloomberg reported on December 22.

According to the report, Barclays Plc, JPMorgan Chase & Co and Deutsche Bank AG are among the banks working to arrange the bond sale to raise funds for Adani Airport Holdings Ltd.

ALSO READ: Adani Group takes management control of Mumbai International Airport from GVK Group

Earlier in July 13, Adani Airport Holdings Limited (AAHL) -- a wholly-owned subsidiary of Adani Enterprises -- took control of the management  of India's second-busiest airport on July 13 after buying out 50.5 percent from GVK Airport Developers Ltd. Earlier, it acquired 23.5 percent from ACSA Global (ACSA) and Bid Services Division (Mauritius), or Bidvest, for Rs 1,685.25 crore. Adani Airports will operate, manage and develop eight airports.

"We are delighted to take over management of the world-class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure, and entertainment. We will create thousands of new local jobs," Gautam Adani said earlier this year after over the management of Mumbai International airport from the GVK Group, following a Mumbai International Airport Limited (MIAL) board meeting.

Recently, Adani Group had received permission to operate Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram, and Mangaluru airports through the public-private partnership (PPP) model.