GMR Group raises $300 million for Hyderabad airport expansion – Times of India


NEW DELHI: Hyderabad’s Rajiv Gandhi International Airport (RGIA) will quickly be expanded to deal with 3.4 crore passengers yearly, up 36% from its present capability of 2.5 crore. GMR Hyderabad International Airport Limited (GHIAL) on Wednesday stated it has efficiently priced an providing of $300 million bond within the worldwide bond market.
The funds raised from this bond subject will probably be used for RGIA expansion. A subsidiary of GMR Airports Limited, GHIAL has entered into a purchase order settlement to subject and allot $300 million 4.75% senior secured notes of 5-yr tenure.
GMR Group company chairman Grandhi Kiran Kumar stated: “We are delighted on the successful pricing of this transaction. The offering through GHIAL reinforces our ability to raise funds from international bond markets and reflects our continued effort to create value for our investors and raise capital for growth. The successful pricing of the offering underscores investors’ confidence in GMR Group and credit strength of GHIAL.”

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