GMR wants to issue airport bonds

GMR Infrastructure, operator of India's largest airport, is looking to refinance debt in its lucrative airport business by tapping domestic and international bond investors, its airports finance chief said.
GMR could refinance some of its long-term airport loan debt, running to 14 years, by issuing project specific bonds with more favourable financing terms, Sidharth Kapur, GMR Airports Chief Financial Officer told Reuters on Monday on the sidelines of the Global Airport Development conference in Dublin.
"We intend to tap the local bond market in the next six to eight months to test that market, and depending on how that goes, the opportunity to go to the international bond market is also one of the options that would be available," he said.
Indian mutual funds, insurance companies and the Indian government could be some of the domestic investors that buy GMR's airport's bonds, while international pensions funds could also be interested, Kapur said.
16/11/10 Reuters.in

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Categories: Airports Nov 2010, New Nov 2010