Adani Airports raises $750 million via ECB
Adani Airports Holdings has secured $750 million in external commercial borrowings at approximately 7.5% interest to refinance debt and enhance infrastructure at six airports. The funds will also support the expansion of non-aeronautical businesses. AAHL aims to triple its passenger capacity to 300 million by 2040, with the Navi Mumbai International Airport soon commencing operations.
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Mumbai: Adani Airports Holdings (AAHL), a subsidiary of Adani Enterprises , has raised $750 million through external commercial borrowings (ECB). The ECB, the exact tensures of which were not immediately known, had been secured "at an interest rate of around 7.5%", said a person aware of the loan pricing.The loan was raised from a consortium of international banks led by First Abu Dhabi Bank, Barclays and Standard Chartered.The five-year US Treasury yielded 3.95% Wednesday evening India time. AAHL has the option to buy back the debt after five years, with an additional option to re-subscribe for three more years thereafter, said sources.The funds will be used to refinance existing debt, upgrade infrastructure and expand capacity at six airports: Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.The money will also go toward expanding non-aeronautical businesses like retail, food and beverage, duty-free, and other services across the airport network.In FY25, Adani Airports Holdings handled 94 million passengers, with a total capacity of 110 million. The company plans to triple this to 300 million passengers a year by 2040 through phased expansion.As part of this plan, the Navi Mumbai International Airport is set to begin operations soon. Its first phase will handle 20 million passengers annually, eventually scaling up to 90 million. This will significantly strengthen aviation infrastructure in the Mumbai region.AAHL CEO Arun Bansal said commitments from leading global financial institutions demonstrated "the long-term value and potential of India's aviation infrastructure".
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