Rs 4,940 crore loan for Delhi airport uplift

New Delhi: The GMR-led Delhi International Airport Limited (DIAL) on Friday signed documents with a consortium of 12 banks for a Rs 4,940-crore loan to modernise Delhi airport.
DIAL has said that the total capital expenditure for phase-I (till year 2010) is estimated at about Rs 8,900 crore which it is expected to be funded by debt and equity in a ratio of 1.25:1, comprising equity and quasi equity of around Rs 3,950 crore and debt of Rs 4,940 crore.
DIAL has signed key financing documents with its project lenders for Rs 3,650 crore and foreign currency loan of $350 million to fund the project, chief financial officer Shirish Navlekar said.
The rupee component of the debt amounting to Rs 3,650 crore has been raised with 17 year door-to-door tenor at an interest rate of 10.50% and ECB component of $350 million has been raised with a 13 year door-to-door tenor, a statement from DIAL said.
“The deal has been syndicated by ICICI Bank Ltd,” Navlekar added.
08/12/07 Financial Express

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Categories: Airports Dec 2007