Adani Airports raises $250 mn to develop airports

Adani Airport Holdings, a wholly owned subsidiary of Adani Enterprises, on Monday said it has raised USD 250 million to develop six airports in the country.

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Adani Airport Holdings, a wholly owned subsidiary of Adani Enterprises, on Monday said it has raised USD 250 million to develop six airports in the country. The company has raised USD 250 million in senior secured 3-year ECB facility from consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option to raise additional USD 200 million, the company said in a regulatory filing. “The financing structure enables a scalable capital solution with flexibility to tap global capital markets in line with AAHL’s vision of providing a transformational airport infrastructure platform,” it said. The company said that the funds raised will be used for capital expenditure and development of six airports. “We are focussed on delivering high quality infrastructure access to our consumers. Both through physical and digital channels”.

AAHL spokesperson said. AAHL recently concluded Mumbai International Airport’s (MIAL) USD 750 million private placement to Apollo. And USD 1.74 billion financial closure of Navi Mumbai International Airport (NMIAL) cumulating to USD 2.74 billion. “The first phase of our capital management plan is now set in motion. With the funding of AAHL, MIAL and NMIAL. And will now focus on scaling up the airports business into one of the largest airport platforms globally”. The spokesperson added. The company further said that it is now geared for the next phase of its capital management plan. Which includes tapping the public capital markets. And further construction facilities to enable access to long term capital sources for infrastructure development. AAHL airports handle around 200 million consumers, including passengers and non-passengers.