Friday, October 21, 2016

Delhi Airport raises USD 523 mn at 6.13 pc coupon

Mumbai: GMR Group-run Delhi International Airport Ltd has raised USD 522.6 million by selling 10-year bonds in the international market at a coupon of 6.125 per cent.

The company said the proceeds from the notes will be used to entirely refinance the current outstanding rupee loans and external commercial borrowings.

"The deal completely refinances entire bank term loans in DIAL and brings a long dated termed out structure ideal for infrastructure projects," Sidharath Kapur, president of GMR Airports said.

The issue is as per RBI regulations on automatic route for ECBs and the amount raised is capped by the outstanding amount of the rupee term loans and the ECB, the company said, but did not offer a break-up of the two.
21/10/16 PTI/Business Standard