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Adani Airport Holdings Ltd (AAHL), a wholly-owned subsidiary of Adani Enterprises Ltd, on Monday announced fund raising of USD 250 million through a senior secured 3-year ECB facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC.
The company on Monday announced the successful closure of funding, which has an option to raise an additional USD 200 million.
Notably, this week, MIAL placed a USD 750 million private placement to Apollo, and a USD 1.74 billion financial closure for NMIAL from the domestic banking system. “With this, AAHL has tapped three different pools of capital cumulating to USD 2.74 billion,” an official statement said.
The latest transaction marks the completion of the first step of the capital management plan of AAHL, it said.
The financing structure enables a scalable capital solution with the flexibility to tap global capital markets for the company to provide a transformational airport infrastructure platform.
An AAHL spokesperson said, “The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airports business into one of the largest airport platforms globally.”
This issuance by AAHL, marks the first milestone in the company’s capital management plan, leading the Adani portfolio’s foray into B2C infrastructure assets.
AAHL business is centred around convenience to the consumer both via physical and digital channels, the Adani Group statement said.
AAHL is now geared for the next phase of its capital management plan, which includes tapping the public capital markets and further construction facilities to enable access to long term capital sources for infrastructure development.
AAHL has an integrated airport network consisting of eight airports located around city centres controlling approx 50 per cent of the top ten domestic routes, around 23 per cent of the total Indian air traffic, and approx 30 per cent of India’s air cargo.
AAHL airports handle around 200 million consumers, including passengers and non-passengers.
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