India’s Adani Airport Holdings Limited (AAHL) has secured funding of $250m for airport development through an ECB facility from a consortium of Standard Chartered and Barclays Bank.
AAHL develops and manages some of the key airports across the country. The facility also has the option to raise additional capital of $200m.
The capital raised will cover capital expenditure for the development of six airports and is said to be the first step of AAHL’s capital management strategy.
In a statement, an AAHL spokesperson 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, Mumbai International Airport Limited (MIAL) and Navi Mumbai International Airport Limited (NMIAL), and we will now focus on scaling up the airports business into one of the largest airport platforms globally."