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GHIAL raises $350 mn through overseas bond issue
Business | IANS | Published :Mumbai, Oct 20 : GMR Hyderabad International Airport Ltd (GHIAL) on Friday said it has raised a total of $350 million through bond issue in the international market.
The company, which is a subsidiary of GMR Airports Ltd and GMR Infrastructure Ltd (GMR Group), has entered a purchase agreement to issue and allot $350 million of 4.25 per cent senior secured fixed rate notes for a period of 10 year tenure.
"The proceeds from the Notes will be used to entirely refinance the current outstanding Rupee Term Bank Loan (RTL), Bank External Commercial Borrowing (ECB) and towards partial funding of proposed capital expenditure," the company said in a statement.
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