Passenger Terminal Today - Elizabeth Baker
Indian airport group Adani Airport Holdings (AAHL) has raised US$250m through a three-year ECB facility from two international banks, to develop the infrastructure of six of its airports.
AAHL is an integrated airport network consisting of eight airports located around city centers in India. The banks that invested were the Standard Chartered Bank (SCB) and Barclays Bank. The funds raised are to be used for capital expenditure and infrastructure. The investment deal has been designed with an option to raise an additional US$200m.
This transaction marks the completion of the first step of AAHL’s capital management plan. AAHL recently concluded a US$750m private placement of Mumbai International Airport (MIAL) to Apollo and US$1.74bn financial closure of Navi Mumbai International Airport (NMIAL) with the three different pools of capital totaling US$2.74bn. According to the company, it is now geared for the next phase of its capital management plan which includes enabling access to long-term capital sources for infrastructure development.