HYDERABAD: GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group), announced that it had, on January 26, successfully priced an offering of $300-million bond in the international bond market.
GHIAL has entered into a purchase agreement to issue and allot $300 mn worth 4.75 per cent senior secured notes of five-year tenure. The proceeds from the notes would be used for capital expenditure with respect to the master plan (expansion) of the Rajiv Gandhi International Airport at Hyderabad, increasing its capacity to 34 million Passengers Per Annum. Commenting on the development, Grandhi Kiran Kumar, Corporate Chairman, GMR Group, said, “We are delighted on the successful pricing of this transaction. The offering through GHIAL reinforces our ability to raise funds from the international bond markets and reflects our continued effort to create value for our investors and raise capital for growth.”