GMR Airports’ international partner Groupe ADP raises €2.5 billion in bonds
GMR Airports’s international partner, Groupe ADP of France, has raised €2.5 billion in bonds in two-parts.
In February, the GMR Group had signed a Share Purchase Agreement with Groupe ADP to divest 49 per cent stake in GMR Airports Ltd (GAL) for an equity consideration of ₹10,780 crore.
The two-part bonds having different maturity have been priced at effective interest rate of 2.125 per cent and 2.75 per cent, respectively. The bonds were over-subscribed by more than five times.
The over-subscription of bonds in the current economic scenario is the testimony of the faith international investors have in Groupe ADP, as global airport developer and operator.
