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Adani Airports raises $250 mn for airports development

This funding is in line with AAHL’s vision of providing a transformational airport infrastructure platform, it said.

Adani Airports raises $250 mn for airports development
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AHMEDABAD: Adani Airport Holdings Ltd (AAHL), a wholly-owned subsidiary of Adani Enterprises raised $250 million for development of airports. AAHL announced the closure of funding of a $250 million senior secured 3-year external commercial borrowing (ECB) facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option of raising another $200 million.

This funding is in line with AAHL’s vision of providing a transformational airport infrastructure platform, it said.

“We are focussed on delivering high quality infrastructure access to our consumers both through physical and digital channels. The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airports business into one of the largest airport platforms globally,” said an AAHL spokesperson.

Last week, Mumbai International Airport, managed by AAHL, raised $750 million senior secured private placement notes from Apollo-managed credit funds. With this and NMIAL’s $1.74 billion financial closure from the domestic banking system, AHL has tapped three different pools of capital, amounting to $2.74 billion.

AAHL is geared for the next phase of its capital management plan, which includes tapping public capital markets and construction facilities for infrastructure development.

The AAHL network consists of eight airports located in various cities, controlling ~50 per cent of the top 10 domestic routes, ~23 per cent of the total Indian air traffic, and ~30 per cent of India’s air cargo.

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IANS
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