GHIAL floats 2k-cr bond in intl market

Hyderabad: GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and a step-down subsidiary of GMR Infrastructure Limited (GMR Group), announced that it had on April 03, 2019 successfully priced an offering of $300 million (about Rs 2,070 crore) in the international bond market.

GHIAL has entered into a Purchase Agreement to issue and allot $300 crore 5.375% senior secured notes of 5-year tenure (the "Notes").

The proceeds from the Notes will be used towards the capital expenditure with respect to the master plan (expansion) of the Rajiv Gandhi International Airport at Hyderabad, increasing the capacity of the Airport to 34 mn passengers per annum.

Commenting on the occasion, Grandhi Kiran Kumar, Corporate Chairman, GMR Group said, "We are delighted on the successful pricing of this transaction.

The offering through GHIAL reinforces our ability to raise funds from the international bond markets and reflects our continued effort to create value for our investors and raise capital for growth.

The successful pricing of the offering underscores investors' confidence in GMR Group and credit strength of GHIAL".