GHIAL to raise US $300 Mn through bond issue for Hyderabad airport expansion
Hyderabad, Jan 27 (UNI) GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group), on Wednesday announced that it had successfully priced an offering of US$ 300 Mn bond in the international bond market.
GHIAL has entered into a Purchase Agreement to issue and allot US$ 300 Mn 4.75 per cent senior secured notes of 5 year tenure, GHIAL said in a release here.
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 (RGIA) at Hyderabad, increasing the capacity of the Airport to 34 Mn Passengers Per Annum.
GMR Group raises $300 million for Hyderabad airport expansion
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GMR Group raises $300 million for Hyderabad airport expansion
Saurabh Sinha / TNN / Updated: Jan 27, 2021, 20:33 IST
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NEW DELHI: Hyderabad’s Rajiv Gandhi International Airport (RGIA) will soon be expanded to handle 3.4 crore passengers annually, up 36% from its current capacity of 2.5 crore. GMR Hyderabad International Airport Limited (GHIAL) on Wednesday said it has successfully priced an offering of $300 million bond in the international bond market.
The funds raised from this bond issue will be used for RGIA expansion. A subsidiary of GMR Airports Limited, GHIAL has entered into a purchase agreement to issue and allot $300 million 4.75% senior secured notes of five-year tenure.
Airports detail solutions to Covid
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27th January 2021
Solutions to, and opportunities arising from, the problems caused by the Covid pandemic were detailed during a special airports session of the World Cargo Summit on January 27.
Whilst there was general support for a more collaborative approach and more digitization, each airport tailors their response to the pandemic.
“We need to work together to save time, money and effort,” said Youssef Beydoun, Head of Cargo Business Relationships at Dubai Airports, before pointing out one of the more eye-catching measures the industry has come up with contend with Covid.
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Working with GMR Hyderabad International Airport Limited & GMR Hyderabad Air Cargo (GMR-HYD), Dubai Airports will build an exclusive Vaccine Air Freight Corridor Product called HYDXB-VAXCOR ( Hyderabad to Dubai global Vaccine Corridor).
GMR places $300 m through bond offer for Hyderabad airport expansion
January 27, 2021
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GMR Hyderabad International Airport Limited (GMRHIAL) has successfully priced $300-million bond in the international bond market through a purchase agreement.
As per the agreement, it will issue and allot $300 million worth 4.75 per cent senior secured notes of five-year tenure.
GMRHIAL is a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group),
The proceeds from the notes will be used towards the capital expenditure for the expansion of Rajiv Gandhi International Airport at Hyderabad, increasing the capacity of the airport to 34 million passengers per annum.
Fitch downgrades DIAL s long term debt with outlook negative
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NEW DELHI :
Rating Agency Fitch on Monday downgraded Delhi International Airport Ltd s (DIAL) long-term issue rating on its senior unsecured notes to BB from BB+ , while labelling the joint venture s outlook as negative due to significant travel restrictions put in place to curb the spread of the coronavirus. The downgrade reflects the sharp drop in DIAL s volume in 2020 due to significant travel restrictions to curb the spread of the coronavirus. Fitch expects the recovery in traffic volumes to be prolonged, the rating agency said in a statement.