GMR to raise $300mn through bonds for Hyderabad airport expansion
GMR Hyderabad International Airport Limited (GHIAL) on Wednesday announced that it successfully priced an offering of US$ 300 million bond in the international bond market.
GHIAL, a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group), entered into a purchase agreement to issue and allot US$ 300 million, 4.75 per cent senior secured notes of five year tenure.
The proceeds from the notes will be used towards the capital expenditure for expansion of the Rajiv Gandhi International Airport at Hyderabad to increase its capacity to 34 million passengers per annum.
“We are delighted on the successful pricing of this transaction. The offering through GHIAL reinforces our ability to raise funds from the International Bond Markets and reflects our continued effort to create value for our investors and raise capital for growth.
