Adani Group Secures Landmark $1 Billion Bond for Mumbai Airport

Adani Group has successfully raised a staggering $1 billion from a consortium of global investors to refinance the existing debt of Mumbai International Airport. The funding was led by New York-based Apollo Global Management, with significant contributions from MetLife Inc, BlackRock Inc, and Hong Kong's FWD Insurance.

Mumbai International Airport Ltd, which operates India's second-largest airport, will allocate the funds to refinance debt raised in 2022. The capital structure includes $750 million in notes maturing by July 2029 and provisions for an additional $250 million.

The notes are expected to be rated BBB- or stable, providing enhanced financial flexibility for modernization and expansion. Adani Airports Holdings, managing eight airports in India, continues its commitment to sustainable infrastructure development and aims for net-zero emissions by 2029.

(With inputs from agencies.)