GMR Hyderabad International Airport Limited (GHIAL) has successfully priced an offering of $300 million ( Rs. 2,071 crore) in the international bond market.
The greenfield airport is a subsidiary of GMR Airports Limited and a step-down unit of GMR Infrastructure Limited (GMR Group).
GHIAL has entered into an agreement to issue and allot $300 million senior secured notes/bonds of five-year tenure, carrying interest of 5.37 per cent.
The proceeds from the notes will be used towards expenditure for the master plan and expansion of the Rajiv Gandhi International Airport in Hyderabad.
Grandhi Kiran Kumar, Corporate Chairman, GMR Group, said: “The offering through GHIAL reinforces our ability to raise funds from the international bond markets. It also reflects our continued effort to create value for our investors and raise capital for growth.”
