Adani seeks for $1 billion in bonds to refinance Mumbai airport debt
- ByStartupStory | December 23, 2021
Businessman Gautam Adani is seeking to raise as much as one billion dollars through a bond sale in January to refinance debt of Mumbai’s international airport. The Indian tycoon took control of the country’s second-busiest airport in July after buying out 50.5% from GVK Airport Developers Ltd. and 23.5% from two South African companies. Adani Airports will operate, manage and develop eight airports in India.
“We are delighted to take over management of the world-class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure, and entertainment. We will create thousands of new local jobs,” Gautam Adani said earlier this year after taking over the management of Mumbai International airport from the GVK Group.
Barclays Plc., JPMorgan Chase & Co. and Deutsche Bank AG are among the banks arranging the bond sale to raise funds for Adani Airport Holdings Ltd., reports citing sources mentioned.
Adani Group had recently received permission to operate Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram, and Mangaluru airports through the public-private partnership (PPP) model.
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