GMR Hyderabad International Airport Limited, a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group), announced that it has successfully priced an offering of $300 million bond in the international bond market.
GHIAL has entered into a purchase agreement to issue and allot $300 million, 5.375% senior secured notes of 5-year tenure.
The proceeds from the notes will be used towards the capital expenditure for the expansion of the Rajiv Gandhi International Airport in Hyderabad. The expansion will increase the capacity of the airport to 34 million passengers per annum.
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".