Adani Airports Secures Landmark $1 Billion for Mumbai Development

Adani Airports Holdings Limited (AAHL), a subsidiary of Adani Enterprises Ltd and India's largest private airport operator, has successfully procured a significant $1 billion in financing for the Mumbai International Airport Ltd (MIAL). This achievement comes through a project finance structure that includes issuing $750 million notes maturing in July 2029. The funding is earmarked for refinancing and further includes provisions to raise an additional $250 million, culminating in a total financing package of $1 billion.

This financial arrangement will provide increased flexibility to MIAL's capital expenditure program aimed at developing, modernising, and enhancing its capacity. Notably, this project marks India's debut investment-grade rated private bond issuance within the airport infrastructure sector. Spearheaded by Apollo-managed funds and backed by global investors including BlackRock-managed funds and Standard Chartered, the transaction underscores international confidence in India's burgeoning infrastructure opportunities and Adani Airports' operational prowess.

AAHL remains steadfast in its commitment to transforming airport infrastructure through its long-term vision, focusing on modernisation, expansion, digitisation, and technology integration. Furthermore, this transaction will accelerate MIAL's sustainability objectives, aligning with its net-zero emissions goal by 2029. The issuance follows a previous $750 million financing from a consortium of global banks, showcasing Adani's access to diversified capital markets. CEO Arun Bansal highlighted the issuance as a testament to the robust fundamentals of Mumbai International Airport and Adani Airports' sustainable infrastructure commitment, thus reinforcing its financial discipline and capital efficiency.

(With inputs from agencies.)