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GMR Hyderabad International Airport Limited successfully prices $300 mn bond offering
Posted On: 2021-01-27 07:04:40 (Time Zone: Arizona, USA)
GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group), announced that it had on January 26, 2021 successfully priced an offering of US$ 300 Mn bond in the international bond market. GHIAL has entered into a Purchase Agreement to issue and allot US$ 300 Mn 4.75% 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.
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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Representative image
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).