Delhi international airport plans to raise Rs 750 crore to refinance debt
Delhi International Airport Limited (DIAL) plans to refinance old debt by raising fresh funds up to Rs 750 crore via long-maturity debentures which carry lower interest rates.
The plan comes close on the heels of global rating agency Standard & Poor’s (S&P) upgrading DIAL’s long-term issuer rating from “B” to “B+” on the back of stronger traffic and profitability.
DIAL is a joint venture company sponsored by the GMR Group through its group company, GMR Airports Limited (64 per cent), in partnership with Airports Authority of India (AAI) (26 per cent) and Fraport AG Frankfurt Airport Services Worldwide (10 per cent).
