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Adani Airports raises $250 mn for airports development
Adani Airports raises $250 mn for airports development

Ahmedabad, May 9 (TIWN): Adani Airport Holdings Ltd (AAHL) on Monday said it has raised USD 250 million through a 3-year ECB facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option to raise additional USD 200 million. The freshly raised capital will be used for capital expenditure and development of six airports, the company said in a release. This transaction marks completion of the first step of the capital management plan of AAHL, which includes tapping the public capital markets to enable access to long-term capital sources for infrastructure development, it said.

Incubated by Adani Enterprises Ltd (AEL), AAHL develops and manages key airports across India. It is an integrated airport network consisting of eight airports and controlling around 50 per cent of top 10 domestic routes. Besides, it controls around 23 per cent of the country's total air traffic as well as around 30 per cent of the air cargo traffic. AAHL had recently concluded Mumbai International Airport Limited's (MIAL) USD 750-million private placement to Apollo and USD 1.74-billion financial closure of Navi Mumbai International Airport Limited (NMIAL) cumulating to USD 2.74-billion, it added.

"We are focussed on delivering high-quality infrastructure access to our consumers both through physical and digital channels," an AAHL spokesperson said. "The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airports business into one of the largest airport platforms globally. We are grateful to our stakeholders and consumers for their continued support and their confidence in us," the spokesperson said. The company also said that the financing structure enables a scalable capital solution with flexibility to tap global capital markets in line with AAHL's vision of providing a transformational airport infrastructure platform.

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