Apollo Provides $750 Million High Grade Capital Solution to Mumbai International Airport Ltd. in Second Transaction
Investment Grade Financing Supports Critical Indian Infrastructure Asset
NEW YORK and MUMBAI, India, June 23, 2025 (GLOBE NEWSWIRE) --
Apollo (NYSE: APO) today announced that Apollo-managed funds, affiliates and other long-term investors have completed a $750 million investment grade rated financing for the Mumbai International Airport Ltd. (MIAL), an Adani Portfolio company and subsidiary of Adani Airports Holdings Limited (AAHL), India's largest private airport operator, that operates Chhatrapati Shivaji Maharaj International Airport (CSMIA), the second largest airport in India.
The 4-year senior secured notes will primarily refinance existing debt, enhancing MIAL's financial flexibility to support operations, modernization and sustainability initiatives. The structure also allows for up to $250 million in additional funding to accelerate capital expenditure and capacity expansion. The transaction represents one of the largest private investment grade rated deals in India's infrastructure sector.
'Working with the Adani Group, we are pleased to deliver a scaled, bespoke capital solution for MIAL, supporting a critical infrastructure asset and the next phase of its ambitious growth capex plans,' said Apollo Partner Jamshid Ehsani. 'This marks Apollo's second large financing for MIAL, having previously provided operational flexibility to deleverage and now delivering an investment grade rated solution.'
Mr. Arun Bansal, CEO of AAHL, added, 'This financing provides us with greater operational flexibility and positions us to further enhance the airport experience for millions of travelers. With Apollo's continued support and the Adani Group's proven execution capabilities, we are well-positioned to realize our vision of transforming MIAL into a world-class asset with a focus on efficiency, comfort and sustainability.'
Matt Michelini, Partner and Head of Asia-Pacific at Apollo, commented, 'As one of the fastest growing global economies, India is an attractive market for hybrid and credit financing, particularly opportunities underpinning critical, next-generation infrastructure. It is a key market for Apollo in Asia, and one where we believe we can serve as a long-term capital partner to leading companies and families.'
CSMIA, a cornerstone of India's aviation infrastructure, is part of Adani Airport Holdings Limited's (AAHL) network of eight airports. AAHL is responsible for developing airport infrastructure assets across India and is a core growth vertical of the Adani group.
MIAL remains committed to sustainability, aligning with the UN Sustainable Development Goals through initiatives such as transitioning to electric vehicles, enhancing energy-efficient operations, strengthening water conservation measures and accelerating efforts to achieve net zero emissions by 2029, reflecting its leadership in sustainable airport operations.
Allen & Overy LLP and Cyril Amarchand Mangaldass served as legal counsel to MIAL. Milbank LLP and Khaitan & Co served as legal counsel to Apollo.
About ApolloApollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.
About MIALMumbai International Airport Ltd. (MIAL) is managed by Adani Airport Holdings Limited, a subsidiary of Adani Enterprises. MIAL operates under a Public-Private Partnership model, with AAHL holding a 74% stake and the Airports Authority of India holding 26%. MIAL is at the forefront of redefining airport infrastructure in India, with a vision to create a vibrant, integrated aerotropolis in Mumbai.
Apollo Contacts
Noah GunnGlobal Head of Investor RelationsApollo Global Management, Inc.(212) 822-0540IR@apollo.com
Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.(212) 822-0491Communications@apollo.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
2 hours ago
- Business Upturn
Apollo Provides $750 Million High Grade Capital Solution to Mumbai International Airport Ltd. in Second Transaction
NEW YORK and MUMBAI, India, June 23, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds, affiliates and other long-term investors have completed a $750 million investment grade rated financing for the Mumbai International Airport Ltd. (MIAL), an Adani Portfolio company and subsidiary of Adani Airports Holdings Limited (AAHL), India's largest private airport operator, that operates Chhatrapati Shivaji Maharaj International Airport (CSMIA), the second largest airport in India. The 4-year senior secured notes will primarily refinance existing debt, enhancing MIAL's financial flexibility to support operations, modernization and sustainability initiatives. The structure also allows for up to $250 million in additional funding to accelerate capital expenditure and capacity expansion. The transaction represents one of the largest private investment grade rated deals in India's infrastructure sector. 'Working with the Adani Group, we are pleased to deliver a scaled, bespoke capital solution for MIAL, supporting a critical infrastructure asset and the next phase of its ambitious growth capex plans,' said Apollo Partner Jamshid Ehsani. 'This marks Apollo's second large financing for MIAL, having previously provided operational flexibility to deleverage and now delivering an investment grade rated solution.' Mr. Arun Bansal, CEO of AAHL, added, 'This financing provides us with greater operational flexibility and positions us to further enhance the airport experience for millions of travelers. With Apollo's continued support and the Adani Group's proven execution capabilities, we are well-positioned to realize our vision of transforming MIAL into a world-class asset with a focus on efficiency, comfort and sustainability.' Matt Michelini, Partner and Head of Asia-Pacific at Apollo, commented, 'As one of the fastest growing global economies, India is an attractive market for hybrid and credit financing, particularly opportunities underpinning critical, next-generation infrastructure. It is a key market for Apollo in Asia, and one where we believe we can serve as a long-term capital partner to leading companies and families.' CSMIA, a cornerstone of India's aviation infrastructure, is part of Adani Airport Holdings Limited's (AAHL) network of eight airports. AAHL is responsible for developing airport infrastructure assets across India and is a core growth vertical of the Adani group. MIAL remains committed to sustainability, aligning with the UN Sustainable Development Goals through initiatives such as transitioning to electric vehicles, enhancing energy-efficient operations, strengthening water conservation measures and accelerating efforts to achieve net zero emissions by 2029, reflecting its leadership in sustainable airport operations. Allen & Overy LLP and Cyril Amarchand Mangaldass served as legal counsel to MIAL. Milbank LLP and Khaitan & Co served as legal counsel to Apollo. About Apollo Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit . About MIAL Mumbai International Airport Ltd. (MIAL) is managed by Adani Airport Holdings Limited, a subsidiary of Adani Enterprises. MIAL operates under a Public-Private Partnership model, with AAHL holding a 74% stake and the Airports Authority of India holding 26%. MIAL is at the forefront of redefining airport infrastructure in India, with a vision to create a vibrant, integrated aerotropolis in Mumbai. Apollo Contacts Noah GunnGlobal Head of Investor RelationsApollo Global Management, Inc.(212) 822-0540 [email protected]
Business Upturn
2 hours ago
- Business Upturn
Top Stocks in focus on June 24: Reliance Industries, ONGC, TVS Motor, Cochin Shipyard and more
By Aman Shukla Published on June 24, 2025, 09:09 IST Indian equity markets closed significantly lower on Monday, June 23, 2025, amid rising geopolitical tensions in the Middle East, with the United States reportedly getting involved. The BSE Sensex fell by 511.38 points (0.62%) to end at 81,896.79, while the NSE Nifty50 declined by 140.50 points (0.56%) to settle at 24,971.90. Ahead of Tuesday's trading session on June 24, the following stocks may remain in focus: IOC, Reliance Industries : Government has imposed anti-dumping duty on imports of Linear Alkyl Benzene from Iran and Qatar for five years. ONGC, Oil India : May see movement following the sharpest single-day fall in crude prices since March 2022, with Brent dipping below $70 per barrel. : May see movement following the sharpest single-day fall in crude prices since March 2022, with Brent dipping below $70 per barrel. SBI Cards : Reported year-on-year growth in May above industry levels and gained market share in overall card spends. TVS Motor : Launched the HLX 150 5G model in the Republic of Congo. Metro Brands : Signed an exclusive distribution agreement with Clarks for India and neighbouring countries. Allcargo Logistics : Reported a 3% month-on-month increase in less-than-container load (LCL) volumes; full-container load (FCL) volumes remained flat. Garware Technical Fibres : Subsidiary to acquire two advanced wire rope manufacturing companies in Norway for ₹111 crore. HG Infra : Declared lowest bidder for a project worth ₹118 crore. Devyani International : To acquire an additional 6% stake in Sky Gate Hospitality for ₹106 crore. Lemon Tree Hotels : Signed a new Keys Lite property in Kharar, Punjab, with 47 rooms. Cochin Shipyard : Received orders worth ₹100–250 crore for two luxury river cruise vessels. Setco Automotive : Entered the suspension solutions segment for medium and heavy commercial vehicles. Dixon Technologies : Promoter sold 2.77% stake via block deals; Motilal Oswal Mutual Fund emerged as a buyer. KPIT Technologies : Management cited uncertain demand trends in the US and Asia, with slower-than-expected deal conversions. Marathon Nextgen Realty: Plans to raise up to ₹900 crore through a QIP; indicative issue price reflects a 12% discount to the current market level. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
2 hours ago
- Yahoo
General Mills Earnings: What To Look For From GIS
Packaged foods company General Mills (NYSE:GIS) will be reporting earnings this Wednesday before market hours. Here's what investors should know. General Mills missed analysts' revenue expectations by 2.4% last quarter, reporting revenues of $4.84 billion, down 5% year on year. It was a slower quarter for the company, with a miss of analysts' organic revenue estimates and EBITDA in line with analysts' estimates. Is General Mills a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting General Mills's revenue to decline 2.8% year on year to $4.58 billion, improving from the 6.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.71 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. General Mills has missed Wall Street's revenue estimates four times over the last two years. With General Mills being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for consumer staples stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. General Mills's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $60.10 (compared to the current share price of $53.60). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
