GHIAL offers $300 mn bond

Grandhi Kiran Kumar, corporate chairman, GMR Group said, “The offering through GHIAL reinforces our ability to raise funds from the international bond markets.

Hyderabad: 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 26th successfully priced an offering of $300 million (about Rs 2,190 crore) bond in the international bond market.

GHIAL has entered into a purchase agreement to issue and allot $300 million 4.75 per cent senior secured notes of five year tenure. The proceeds from the notes will be used towards the capital expenditure with respect to the master plan of the Rajiv Gandhi International Airport at Hyderabad, increasing the capacity of the airport to 34 million passengers per annum.

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Commenting on the occasion, Grandhi Kiran Kumar, corporate chairman, GMR Group said, “The offering through GHIAL reinforces our ability to raise funds from the international bond markets and reflects our continued effort to create value for our investors and raise capital for growth. The successful pricing of the offering underscores investors’ confidence in GMR Group and credit strength of GHIAL”.

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