GMR Infrastructure's arm raises $ 522.6 million through bonds issue

Delhi International Airport, a subsidiary of GMR Airports and GMR Infrastructure has successfully priced $ 522.6 million in the international bond market. DIAL has entered into a Purchase Agreement to issue and allot $ 522.6 million of 6.125% senior secured fixed rate notes of 10 year tenure (the Notes). The proceeds from the Notes will be used to entirely refinance the current outstanding Rupee Term Bank Loan (RTL) and Bank External Commercial Borrowing (ECB).

The issuances of Notes are pursuant to the regulations issued by the Reserve Bank of India (RBI) in relation to ECB and are under the automatic route and the amount raised to pursuant to the Notes are capped by the outstanding amount of the RTL and Bank ECB being financed.

Delhi International Airport owns and operates an airport in New Delhi, India. Its facilities include terminals for airlines for passenger & cargo aircraft operations, business lounges, recreation facilities, baggage services inside the airport, eating places & retail shops and duty-free retail stores.