Adani Group raises $250m debt to finance development of six airports

The Adani Group announced on Monday that it had raised $250 million over three years from Standard Chartered Bank and Barclays Bank for capital expenditure at six airports it operates under a public partnership -private.

The group has the option to raise an additional $200 million under the existing facility, the company said in a statement.

Adani Group operates seven airports including Mumbai, Ahmedabad, Guwahati, Jaipur, Lucknow, Mangaluru and Thiruvananthapuram.

As Adani Group took over Mumbai Airport from GVK last year, it won the tender to operate six Airports Authority of India (AAI) airports on a 50-year lease. . The group is also developing the Navi Mumbai airport.

“We are focused on providing high-quality infrastructure access to our consumers, both through physical and digital channels,” the spokesperson for Adani Airports Holding Limited (AAHL) said.

The latest debt raising comes on the heels of $750 million raised by Mumbai International Airport Limited last week for refinancing and investments.

The group said the first phase of its management plan has been launched with funds locked in for operational and under construction airports.

“We will now focus on developing the airport business into one of the largest airport hubs in the world,” AAHL added.

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