AAHL: Adani Airports Holdings Raises $250M in Foreign Debt

Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprise, said on Monday that it is raising $250 million (Rs 1,950 crore) of overseas debt and added that it will now operate public capital markets for long-term capital.

AAHL, which runs 7 airports and is building the country’s most expensive, said the funds included a secured 3-year ECB facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC.

He has an option to raise an additional $200 million (Rs 1,560 crore).

“The funding structure allows for a scalable capital solution with flexibility to tap into global capital markets…,” Adani said in a statement.

Earlier this week, Adani’s Mumbai International Airport raised $750 million (Rs 5,850 crore) through a private placement with Apollo Credit. Prior to this, it had tied up funds worth $1.74 billion (Rs 13,000 crore) for the financial closure of NMIAL by the national banking system. With this, AAHL tapped three different capital pools accumulating $2.74 billion (Rs 2.14 lakh crore).

“The first phase of our capital management plan is now underway with funding from AAHL, MIAL and NMIAL, and we will now focus on transforming the airport business into one of the largest platforms airports in the world. We are grateful to our stakeholders and consumers for their continued support and trust in us.

AAHL’s airports serve approximately 200 million consumers, including passengers and non-passengers.

MIAL holds a 74% stake in Navi Mumbai International Airport Limited (NMIAL), the new airport under development at Navi Mumbai. In April, Adani completed the financial closure of the airport by partnering with SBI for over Rs 12,770 crore of debt to fund the project.