Hyderabad: Delhi International Airport Ltd, a GMR group company, plans to raise USD 350 million through 10 year senior secured bonds for the airport expansion programme and Moody’s has assigned a Ba2 rating for the proposed bonds.
Proceeds from the proposed bond would be used to help fund a major expansion to increase the passenger handling capacity of Indira Gandhi International Airport to up to 100 million passengers per annum, which the company expects would cost up to Rs 98 billion ( Rs 9800 crore) over a three-year development phase, Moodys said.
