Adani to raise over $1 billion to refinance Mumbai International Airport debt
The Adani Group, which is soon expected to take over the GVK-led Mumbai International Airport (MIAL), plans to refinance its debt at lower rates with overseas funds, people aware of the talks told ET.
Adani Airport Holdings, which will formally own a majority in MIAL, is now in talks with a global consortium of foreign lenders, including Standard Chartered Bank, Barclays, Deutsche and JP Morgan, to raise more than $1 billion in offshore loans. Proceeds will be used to repay existing local top-ranked public and private banks, said two people involved in the exercise.
