Adani controlled Mumbai International Airport Board approves USD 1.25 Billion Bond issue

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Biznextindia : The Board of Directors of Mumbai International Airport Limited (MIAL), a step down subsidiary of Adani Enterprises Limited has approved issuance of Senior Secured Fixed Rate Bonds worth USD 1.25 Billion. The proceeds from the issuance of the Notes will be utilised for refinancing of existing debt and to fund capital expenditure requirements of MIAL.

“We would like to inform you that the Board of Directors of Mumbai International Airport Limited (the “Issuer”), a step down subsidiary company of Adani Enterprises Limited, at its meeting held on 14th January 2022, has approved the issuance of US Dollar denominated Rule 144A/ Reg S Senior Secured Fixed Rate Bonds (“Notes”), which may, be issued in one or more tranches overseas and that may be listed in any one or more stock exchanges in India or overseas. The proceeds from the issuance of the Notes will be utilised for refinancing of existing debt and to fund capital expenditure requirements of the Issuer, in accordance with applicable laws. The total amount raised will not exceed USD 1.25 Billion. The pricing, tenure and other terms of the Notes to be issued will be determined by the Authorized Signatories of the Issuer, on or after 19th January 2022, and such details shall be intimated in due course” Adani Enterprises informed the bourses.

Adani Group took control of the country’s second-busiest airport in July after buying out 50.5% from GVK Airport Developers Ltd. and 23.5% from two South African companies. Adani Airports will operate, manage and develop eight airports in India, it said in its latest investor presentation.

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