On Wednesday, May 4, Adani Enterprises announced that Mumbai International Airport Ltd (MIAL) has raised $750 million from Apollo managed credit fund.
MIAL owns Chhatrapati Shivaji Maharaj International Airport (CSMIA) & is responsible for its operations. CSM International Airport is India’s second-largest airport. The proceed from the issuance of notes will be used to clear off debts & for expansion purposes.
“Apollo’s Credit business was able to provide a scaled, long-term capital solution for MIAL, with the majority of proceeds from the 7.25-years, $750 million notes to be used to refinance existing shorter maturity loans and new capital expenditure. MIAL is an iconic asset within AAHL’s expanding airport infrastructure Portfolio and the marquee private placement is among the largest-ever completed in India,” Adani Enterprises started in an exchange filing.
Adani Group firm further added that the transaction marked the first step for Adani Airport Holdings Ltd’s (AAHL) capital management plan along with the announcement of the financial closure of Navi Mumbai airport.
