GMR Airports raises Rs 1,950 cr for three years to refinance debt
MUMBAI: Standard Chartered Bank, JPMorgan, Deutsche Bank, a Varde Partners entity and Trust Investment jointly provided a Rs 1,950-crore, three-year debt facility to GMR Airports, people with knowledge of the matter said.
GMR Airports, the holding company of the airports in Delhi, Hyderabad and Goa, will use the proceeds to refinance high-cost borrowings and partly to invest in subsidiaries, said the bond documents that did not name the investors. The coupon rate of 13.275% comprised 5% as cash coupon and 8.275% as redemption premium, the documents stated.
