BIAL Sets Financial Milestone with Record NCD Private Placement

Bangalore International Airport Limited (BIAL), the operator behind Kempegowda International Airport Bengaluru, has achieved a significant landmark by completing the largest unlisted private placement of Non-Convertible Debentures (NCDs) in India's airport sector, securing a total of Rs 9,000 crore.

The transaction has been finalized, officials confirmed, with the deal structured in two parts: Rs 4,362 crore completed by July 25, 2025, and Rs 4,638 crore set for early October 2025. SBICAPs played a pivotal role as the sole arranger for this groundbreaking issuance.

Officials stated that the 15-year refinancing period will allow BIAL to conserve capital and center its efforts on future expansion. The transaction promises notable savings on borrowing costs, facilitated by a shift to a fixed interest rate and a positive AAA credit rating, thereby extending the maturity profile. Bhaskar Rao, the Chief Financial Officer of BIAL, underscored the long-term benefits of this financial restructuring, highlighting its potential to offer enhanced value to stakeholders, passengers, and airline partners through increased affordability and infrastructure growth.

(With inputs from agencies.)