Tuesday, May 11

GMR Team raises $300 million for Hyderabad airport expansion

GMR Team raises $300 million for Hyderabad airport expansion


NEW DELHI: Hyderabad’s Rajiv Gandhi Worldwide Airport (RGIA) will soon be expanded to tackle 3.4 crore passengers per year, up 36% from its present-day potential of 2.5 crore. GMR Hyderabad Intercontinental Airport Limited (GHIAL) on Wednesday reported it has successfully priced an providing of $300 million bond in the worldwide bond market.
The resources lifted from this bond situation will be employed for RGIA enlargement. A subsidiary of GMR Airports Minimal, GHIAL has entered into a acquire settlement to difficulty and allot $300 million 4.75% senior secured notes of five-yr tenure.
GMR Team company chairman Grandhi Kiran Kumar explained: “We are delighted on the profitable pricing of this transaction. The featuring by means of GHIAL reinforces our capability to increase money from intercontinental bond marketplaces and reflects our continued exertion to make benefit for our traders and elevate money for advancement. The effective pricing of the providing underscores investors’ self confidence in GMR Team and credit rating strength of GHIAL.”



Source (important)