CapEx Tracking the Creation of New Capacities
From Intentions through Implementation and Completion.
28 Jan 2021 11:21 AM, Tidings Priyanka Patil

Hyderabad airport secures funds for expansion

Successfully priced offering of USD 300 mln bond in international bond market on 26 Jan

GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports and a step down subsidiary of GMR Infrastructure (GMR Group), announced that the airport company has secured funds to expand the existing Hyderabad airport. The company said that on 26 January 2021 it successfully priced an offering of USD 300 million bond in the international bond market. GHIAL entered into a purchase agreement to issue and allot USD 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 (expansion) of the Rajiv Gandhi International Airport at Hyderabad, increasing the capacity of the Airport to 34 million passengers per annum.